Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $57.65 and last traded at $62.89, with a volume of 3129305 shares traded. The stock had previously closed at $58.75.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on GEHC shares. The Goldman Sachs Group raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Wells Fargo & Company increased their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Citigroup increased their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.73.
Get Our Latest Stock Analysis on GE HealthCare Technologies
GE HealthCare Technologies Price Performance
The stock has a market cap of $29.45 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company's fifty day moving average is $81.29 and its 200 day moving average is $83.80.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.
GE HealthCare Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's payout ratio is 3.23%.
Institutional Investors Weigh In On GE HealthCare Technologies
Several hedge funds have recently modified their holdings of GEHC. Cherry Creek Investment Advisors Inc. raised its stake in GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock valued at $2,920,000 after buying an additional 114 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after acquiring an additional 114 shares in the last quarter. Haverford Trust Co lifted its stake in GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after purchasing an additional 115 shares during the last quarter. Tandem Capital Management Corp ADV boosted its holdings in GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock worth $2,205,000 after purchasing an additional 118 shares during the period. Finally, Arcus Capital Partners LLC increased its stake in GE HealthCare Technologies by 3.0% during the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after purchasing an additional 119 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
About GE HealthCare Technologies
(
Get Free Report)
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.
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