GE HealthCare Technologies (NASDAQ:GEHC) Trading Down 3.2% – What’s Next?

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price dropped 3.2% during mid-day trading on Monday . The company traded as low as $85.13 and last traded at $85.59. Approximately 1,292,104 shares traded hands during trading, a decline of 57% from the average daily volume of 2,982,697 shares. The stock had previously closed at $88.42.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Evercore ISI boosted their price target 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. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.23.

GE HealthCare Technologies Trading Down 3.7 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The business has a fifty day moving average of $88.42 and a 200-day moving average of $83.41. The stock has a market capitalization of $38.87 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies 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 transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC raised its holdings in shares of GE HealthCare Technologies by 18.4% during the third 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 period. Greenleaf Trust grew its position in GE HealthCare Technologies by 1.7% during 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. EverSource Wealth Advisors LLC raised its stake in GE HealthCare Technologies by 8.7% during the 2nd 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 during the period. Quarry LP lifted its holdings in shares of GE HealthCare Technologies by 28.3% in the second quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after purchasing an additional 131 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in shares of GE HealthCare Technologies by 13.0% in the third quarter. Cromwell Holdings LLC now owns 1,147 shares of the company’s stock worth $108,000 after buying an additional 132 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.