GE HealthCare Technologies (NASDAQ:GEHC) Trading Up 0.3% – Here’s What Happened

GE HealthCare Technologies Inc. (NASDAQ:GEHC) traded up 0.3% on Friday . The stock traded as high as $77.67 and last traded at $77.67. 1,476,253 shares traded hands during trading, a decline of 52% from the average session volume of 3,049,545 shares. The stock had previously closed at $77.43.

Analyst Upgrades and Downgrades

Several equities 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 target price on the stock in a research report on Wednesday, September 18th. Evercore ISI lifted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Price Performance

The firm has a market capitalization of $35.81 billion, a PE ratio of 21.54, a P/E/G ratio of 2.96 and a beta of 1.07. The company has a fifty day moving average price of $84.88 and a two-hundred day moving average price of $83.71. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share 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. Investors 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 dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on 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 $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after buying an additional 19,010 shares during the period. Retirement Systems of Alabama boosted its holdings in GE HealthCare Technologies by 7.3% in the 3rd quarter. Retirement Systems of Alabama now owns 100,505 shares of the company’s stock valued at $9,432,000 after purchasing an additional 6,862 shares during the period. Tidal Investments LLC boosted its holdings in GE HealthCare Technologies by 32.5% in the 3rd quarter. Tidal Investments LLC now owns 23,715 shares of the company’s stock valued at $2,226,000 after purchasing an additional 5,819 shares during the period. Wilmington Savings Fund Society FSB grew its position in GE HealthCare Technologies by 150.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,278 shares of the company’s stock worth $1,058,000 after purchasing an additional 6,770 shares during the last quarter. Finally, World Investment Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 44.5% during the 3rd quarter. World Investment Advisors LLC now owns 4,716 shares of the company’s stock worth $443,000 after purchasing an additional 1,453 shares during the period. 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.