GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Up 0.5% – Here’s Why

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) were up 0.5% during mid-day trading on Monday . The company traded as high as $81.78 and last traded at $81.48. Approximately 391,840 shares were traded during trading, a decline of 87% from the average daily volume of 3,041,197 shares. The stock had previously closed at $81.10.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GEHC shares. Wells Fargo & Company increased 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. Evercore ISI lifted their target price 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. BTIG Research raised 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. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Stock Down 2.7 %

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 stock has a market capitalization of $35.22 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.96 and a beta of 1.07. The firm’s fifty day moving average is $85.41 and its 200-day moving average is $83.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the business earned $0.99 EPS. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of GE HealthCare Technologies

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