GE HealthCare Technologies (NASDAQ:GEHC) Downgraded by UBS Group

UBS Group lowered shares of GE HealthCare Technologies (NASDAQ:GEHC) from a neutral rating to a sell rating in a report released on Thursday morning, Marketbeat.com reports. UBS Group currently has $74.00 target price on the stock, down from their previous target price of $84.00.

GEHC has been the topic of a number of other research reports. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a neutral rating and a $87.00 target price on the stock. Redburn Atlantic raised shares of GE HealthCare Technologies to a strong-buy rating in a report on Thursday, August 1st. Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a buy rating and a $100.00 target price for the company. BTIG Research raised shares of GE HealthCare Technologies from a neutral rating to a buy rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a neutral rating and a $90.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $93.92.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $91.99 on Thursday. The company has a market cap of $41.99 billion, a P/E ratio of 26.90, a PEG ratio of 3.40 and a beta of 1.17. The company has a fifty day simple moving average of $85.13 and a 200 day simple moving average of $83.26. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies has a 12-month low of $62.35 and a 12-month high of $94.55.

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

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.13%. GE HealthCare Technologies’s payout ratio is 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Global Assets Advisory LLC bought a new position in GE HealthCare Technologies during the first quarter worth about $4,273,000. Vanguard Group Inc. boosted its holdings in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares during the period. Hsbc Holdings PLC grew its stake in GE HealthCare Technologies by 21.1% in the 4th quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock valued at $36,408,000 after buying an additional 81,916 shares in the last quarter. Mather Group LLC. bought a new stake in GE HealthCare Technologies during the 1st quarter valued at $106,000. Finally, Orion Portfolio Solutions LLC lifted its position in shares of GE HealthCare Technologies by 128.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 22,614 shares of the company’s stock worth $1,749,000 after acquiring an additional 12,721 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

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.