GE HealthCare Technologies (NASDAQ:GEHC) Sees Unusually-High Trading Volume

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw strong trading volume on Friday . 2,999,460 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 2,922,248 shares.The stock last traded at $86.53 and had previously closed at $87.46.

Analysts Set New Price Targets

GEHC has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus began coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday. They set a “neutral” rating and a $90.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.58.

GE HealthCare Technologies Trading Down 1.0 %

The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The firm has a fifty day moving average price of $82.85 and a 200 day moving average price of $83.50. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 3.26 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GEHC. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies during the first quarter worth approximately $25,000. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies in the 2nd quarter valued at $26,000. BNP Paribas acquired a new position in GE HealthCare Technologies in the 1st quarter valued at $30,000. Sachetta LLC bought a new position in GE HealthCare Technologies during the 4th quarter worth $31,000. Finally, Rise Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares in the last quarter. 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.