GE HealthCare Technologies (NASDAQ:GEHC) Trading 3.7% Higher – What’s Next?

GE HealthCare Technologies Inc. (NASDAQ:GEHC) shares were up 3.7% on Wednesday . The company traded as high as $86.60 and last traded at $86.46. Approximately 551,008 shares changed hands during trading, a decline of 79% from the average daily volume of 2,621,133 shares. The stock had previously closed at $83.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GEHC shares. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $103.00 in a research report on Wednesday. Finally, Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

GE HealthCare Technologies Stock Performance

The firm’s fifty day moving average price is $82.29 and its 200-day moving average price is $84.05. The company has a market cap of $38.72 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.90 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS 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 analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, 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. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is currently 3.85%.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GEHC. Harbor Capital Advisors Inc. grew its position in GE HealthCare Technologies by 4.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,779 shares of the company’s stock valued at $686,000 after purchasing an additional 383 shares in the last quarter. Hilltop National Bank raised its position in shares of GE HealthCare Technologies by 8,000.0% in the 4th quarter. Hilltop National Bank now owns 17,658 shares of the company’s stock valued at $1,381,000 after buying an additional 17,440 shares in the last quarter. ST Germain D J Co. Inc. grew its position in GE HealthCare Technologies by 21.8% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,212 shares of the company’s stock valued at $251,000 after acquiring an additional 575 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of GE HealthCare Technologies by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,597 shares of the company’s stock valued at $2,392,000 after acquiring an additional 146 shares in the last quarter. Finally, First Hawaiian Bank increased its position in GE HealthCare Technologies by 4.6% in the 4th quarter. First Hawaiian Bank now owns 30,011 shares of the company’s stock valued at $2,346,000 after acquiring an additional 1,314 shares during the period. 82.06% of the stock is owned by institutional investors.

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.