GE HealthCare Technologies (NASDAQ:GEHC) Shares Gap Down - Here's What Happened

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $72.00, but opened at $63.36. GE HealthCare Technologies shares last traded at $62.65, with a volume of 3,218,313 shares changing hands.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent research reports. Wells Fargo & Company raised 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. Citigroup boosted their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and increased their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $97.73.

GE HealthCare Technologies Price Performance

The stock has a market capitalization of $29.72 billion, a PE ratio of 15.01, a PEG ratio of 3.19 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average price of $83.69 and a 200-day moving average price of $84.79.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS 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 paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.23%.

Institutional Investors Weigh In On GE HealthCare Technologies

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in GE HealthCare Technologies in the 4th quarter worth $488,531,000. Capital Research Global Investors raised its stake in GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after buying an additional 2,608,066 shares in the last quarter. Van ECK Associates Corp lifted its holdings in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after buying an additional 2,506,417 shares during the period. Vanguard Group Inc. grew its holdings in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. Finally, Eminence Capital LP purchased a new stake in GE HealthCare Technologies in the fourth quarter worth $102,574,000. Hedge funds and other 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.