GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Down 1.6% – What’s Next?

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Wells Fargo & Company raised their price target 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. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. 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 given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Stock Performance

The company’s 50-day moving average price is $84.64 and its 200 day moving average price is $83.81. The stock has a market capitalization of $35.97 billion, a PE ratio of 21.63, a PEG 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 posted 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 business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, January 14th. 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 Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly 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 SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. LGT Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new position in GE HealthCare Technologies during the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies in the third quarter worth approximately $26,000. Finally, Elkhorn Partners Limited Partnership purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at approximately $31,000. 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.