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% on Monday . The company traded as low as $77.65 and last traded at $77.65. Approximately 385,448 shares changed hands during 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

GEHC has been the topic of several research analyst reports. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group lowered shares of 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. Evercore ISI upped 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. Wells Fargo & Company raised their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, 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 report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Stock Up 0.1 %

The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The firm’s 50 day moving average price is $84.17 and its two-hundred day moving average price is $83.85. The company has a market capitalization of $36.26 billion, a P/E ratio of 21.80, a PEG ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

Insider Activity

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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Fred Alger Management LLC acquired a new stake in GE HealthCare Technologies during the 2nd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies during the third quarter worth $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in shares of GE HealthCare Technologies in the second quarter valued at $31,000. Institutional investors 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.