GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Down 1.6% – Here’s Why

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price traded down 1.6% on Monday . The stock traded as low as $77.65 and last traded at $77.65. 385,448 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 3,078,405 shares. The stock had previously closed at $78.91.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of research analyst reports. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Stifel Nicolaus boosted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Trading Up 0.1 %

The firm’s fifty day simple moving average is $84.17 and its 200 day simple moving average is $83.85. The stock has a market capitalization of $36.26 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last announced 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. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.85%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Trading of GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of GEHC. Quent Capital LLC lifted its stake in shares of GE HealthCare Technologies by 18.4% in the 3rd quarter. Quent Capital LLC now owns 766 shares of the company’s stock valued at $72,000 after acquiring an additional 119 shares during the last quarter. Greenleaf Trust increased its holdings in GE HealthCare Technologies by 1.7% in the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after purchasing an additional 124 shares in the last quarter. Westside Investment Management Inc. raised its position in GE HealthCare Technologies by 32.0% in the third quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock valued at $48,000 after purchasing an additional 125 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 8.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after purchasing an additional 127 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of GE HealthCare Technologies by 28.3% during the second quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after purchasing an additional 131 shares during the last quarter. Institutional investors 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.