GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Down 0.1% – Here’s Why

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s stock price was down 0.1% on Tuesday . The company traded as low as $82.46 and last traded at $83.02. Approximately 285,550 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,055,534 shares. The stock had previously closed at $83.08.

Analysts Set New Price Targets

GEHC has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. Finally, Evercore ISI upped their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Trading Down 1.1 %

The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.98 and a beta of 1.08. The business’s 50-day simple moving average is $87.78 and its two-hundred day simple moving average is $83.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company earned $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GEHC. Mesirow Financial Investment Management Inc. grew its position in GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares during the last quarter. LMR Partners LLP acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at $7,387,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in GE HealthCare Technologies during the third quarter worth $1,396,000. Bank of Montreal Can increased its holdings in GE HealthCare Technologies by 27.5% in the 2nd quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock valued at $54,964,000 after buying an additional 150,137 shares during the period. Finally, Douglas Lane & Associates LLC lifted its stake in GE HealthCare Technologies by 2.2% during the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock worth $43,171,000 after purchasing an additional 10,099 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.