GEHC stock price lost 1.20% of its trading price in the weekly time frame and approximately 18% in a quarter. However, in a month, price improved 1.72%.
GE HealthCare Technologies (GEHC) Stock Price Analysis
In the 52-weeks time frame, GEHC stock peaked at $87.83 and its lowest value was $53.00.
GE HealthCare Technologies has a market capitalization of $30.602 Billion. Companiesmarketcap(dot)com data shows that a surge of 15.31% was observed in market capitalization in 2023.
The MACD and signal line are approaching the zero line and the histogram is reflecting major bulls accumulation. Price is expected to rise steadily if both lines cross the zero line, entering bullish territory.
The RSI line is mimicking the MACD line, and is about to cross the zero line and enter the bullish region soon. The annual price target of GEHC stock is $88.00.
At the time of writing, GEHC stock price was below 20, 50, 100 and 200 day exponential moving averages (EMAs). The decline seems to be fueled by the earnings release. However, the company reported positive revenue growth in Q2 2023.
It is noted that after the earnings release a major sell-off has troubled the GEHC stock price severely.
GE HealthCare Technologies (GEHC) Financial Updates
GE HealthCare Technologies succeeded in reporting nearly the same revenue as estimated while the reported EPS of the company surged over 5%.
The estimates were $0.90 as EPS and $4.80 Billion in revenue in the third quarter. TradingView data shows that 392.011 Million GEHC shares are free floating and remaining 62.797 Million shares are closely held.
In the financial year 2022, GE HealthCare Technologies reported $18.34 Billion in revenue from which its net income was $1.92 Billion and profit margin was positive 10.45%.
GE Healthcare Technologies, Inc. operates as a holding company with interest in providing medical technology, pharmaceutical diagnostics and digital solutions. It operates through the following segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.
Technical Levels
Support Level: $65.22 & $64.21
Resistance Level: $68.41 & $70.58
Conclusion:
In the past few months GEHC stock tumbled below $70 and lost 1.20% of its trading value in the weekly time frame. The MACD and RSI both suggest that a bounce in GEHC stock price is expected in upcoming sessions. However when trading bears were more active, the stock price reflected a steep decline of 1.00%.
