GE HealthCare Technologies (NASDAQ:GEHC) Trading Down 2.9%

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s stock price fell 2.9% during mid-day trading on Thursday . The company traded as low as $89.38 and last traded at $90.29. 715,577 shares changed hands during trading, a decline of 76% from the average session volume of 3,012,953 shares. The stock had previously closed at $93.01.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of research analyst reports. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Stifel Nicolaus assumed coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective for the company. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $74.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.92.

GE HealthCare Technologies Trading Down 1.6 %

The business’s 50-day simple moving average is $84.67 and its 200-day simple moving average is $83.26. The company has a market cap of $41.77 billion, a PE ratio of 26.73, a P/E/G ratio of 3.40 and a beta of 1.17. 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period last year, the company earned $0.92 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were 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 owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of GE HealthCare Technologies

A number of institutional investors and hedge funds have recently modified their holdings of GEHC. 9258 Wealth Management LLC grew its position in shares of GE HealthCare Technologies by 5.7% in the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock valued at $253,000 after purchasing an additional 176 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in GE HealthCare Technologies by 128.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 22,614 shares of the company’s stock valued at $1,749,000 after buying an additional 12,721 shares during the last quarter. Advisory Services Network LLC grew its holdings in GE HealthCare Technologies by 15.2% in the 4th quarter. Advisory Services Network LLC now owns 12,549 shares of the company’s stock valued at $970,000 after buying an additional 1,652 shares during the last quarter. Hsbc Holdings PLC increased its position in GE HealthCare Technologies by 21.1% in the 4th quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock worth $36,408,000 after buying an additional 81,916 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $807,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.