GEHC Stock Price Rising Upside; Surpassed The 20-day EMA

After bearing downside price action, GE HealthCare Technologies, Inc. (NASDAQ: GEHC) stock price changed its way. This time, the stock price seems to be holding a bullish trend which led its price to surpass the 20-day EMA. Although, this is due to the increased bulls’ dominance in the recent trading sessions.

GEHC Stock Price Movement Analysis

With over 1% price drop in the last 1 month, GEHC stock price rose 5.52% in the last 5 days. Whereas, in its recent trading session, near the weekend, the stock accumulated potential bulls. With bullish market performance, GEHC stock traded between $68.41 to $66.15 in its recent trading session.

As shown in the above chart, the RSI of GEHC stock also started rising, indicating its journey towards the overbought zone. Also, the bulls already showed their potential strength which may bring its price to reach near a 50-day EMA in upcoming trading sessions.

It must be noted that near its recent quarterly report, the stock jumped and traded upside nearly $80.00. However, after the quarterly report, bears started accumulating and dropped down its price which now seems like it is in a healing phase.

In the past 3 months, analysts have given a “buy” rating to GEHC stock. Whereas, the analysts have set their 1-year price target at $88.90, up over 30% from the recent closing price of the stock. Notably, the maximum estimate is resting at $99.00 while the minimum estimate is at $78.00.

The Fundamentals of GE HealthCare Technologies

GE HealthCare Technologies, Inc. (NASDAQ: GEHC), is an American multinational medical technology company, that has a market cap of nearly $31.05 Billion. GEHC dividends are paid on a quarterly basis, the next dividend per share is expected to be $0.03.

Late in July 2023, the company released its Q2 2023 reports that stated its net income was $418.00 Million. The earnings per share (EPS) for the last quarter was $0.92 whereas the estimation was $0.87 which accounts for a 5.85% surprise. The revenue for the same quarter amounts to $4.82 Billion despite the estimated figure of $4.79 Billion.

For the upcoming quarter, the estimated EPS is $0.90, and revenue is expected to reach $4.80 Billion. Last year, the revenue of GE HealthCare Technologies, Inc. amounted to $18.34 Billion. Most of which, $9.98 Billion came from its highest performing source at the moment, Imaging, the year earlier brought $9.43 Billion.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.