GE HealthCare Technologies (NASDAQ:GEHC) Trading 0.5% Higher – Here’s What Happened

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

Analysts Set New Price Targets

GEHC has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. 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 research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Price Performance

The company has a market capitalization of $35.22 billion, a PE ratio of 21.18, a P/E/G ratio of 2.96 and a beta of 1.07. The stock has a 50 day moving average price of $85.41 and a two-hundred day moving average price of $83.80. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities analysts forecast 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. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.18%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Insiders Place Their Bets

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEHC. Quent Capital LLC boosted its holdings in shares of GE HealthCare Technologies by 18.4% during the 3rd quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after buying an additional 119 shares during the period. Greenleaf Trust grew its position in shares of GE HealthCare Technologies by 1.7% in the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after purchasing an additional 124 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 32.0% in the third quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after purchasing an additional 127 shares during the last quarter. Finally, Quarry LP boosted its stake in GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.