GE HealthCare Technologies (NASDAQ:GEHC) Shares Up 0.4% – Here’s Why

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s stock price was up 0.4% during trading on Thursday . The stock traded as high as $78.18 and last traded at $77.40. Approximately 597,391 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,044,881 shares. The stock had previously closed at $77.09.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEHC. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. Stifel Nicolaus lifted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The business’s fifty day moving average price is $85.14 and its 200 day moving average price is $83.75. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Large investors have recently modified their holdings of the business. State Street Corp increased its position in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after acquiring an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies during the 3rd quarter valued at about $268,159,000. Charles Schwab Investment Management Inc. grew its position in shares of GE HealthCare Technologies by 12.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in GE HealthCare Technologies during the third quarter valued at approximately $208,513,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Company Profile

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.