GE HealthCare Technologies (NASDAQ:GEHC) Trading 0.3% Higher – What’s Next?

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

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent research reports. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI upped their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Trading Up 1.2 %

The company has a market cap of $35.81 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.96 and a beta of 1.07. The firm has a fifty day moving average price of $84.88 and a 200 day moving average price of $83.71. 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share 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 during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal 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 issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Insiders Place Their Bets

In related 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 completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of hedge funds have recently bought and sold shares of GEHC. State Street Corp boosted its holdings in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC increased its holdings in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in GE HealthCare Technologies in the third quarter valued at about $268,159,000. Charles Schwab Investment Management Inc. increased its position in GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies during the third quarter valued at about $208,513,000. Institutional investors 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.