GE HealthCare Technologies (NASDAQ:GEHC) Trading 0.4% Higher - Here's What Happened

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report) shares rose 0.4% during trading on Thursday . The stock traded as high as $78.18 and last traded at $77.40. Approximately 597,391 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,044,881 shares. The stock had previously closed at $77.09.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a "buy" rating in a report on Monday, September 30th. Wells Fargo & Company raised their target price on 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 increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. BTIG Research raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a "neutral" rating and a $90.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.46.

GE HealthCare Technologies Stock Performance

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market cap of $35.38 billion, a P/E ratio of 21.27, a PEG ratio of 2.96 and a beta of 1.07. The stock's 50 day moving average is $84.88 and its two-hundred day moving average is $83.71.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company's revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This is a boost 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 presently 3.85%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company's stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of GE HealthCare Technologies

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. grew its position in GE HealthCare Technologies by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock worth $94,780,000 after acquiring an additional 19,010 shares during the last quarter. Retirement Systems of Alabama boosted its stake in GE HealthCare Technologies by 7.3% in the third quarter. Retirement Systems of Alabama now owns 100,505 shares of the company's stock worth $9,432,000 after purchasing an additional 6,862 shares in the last quarter. Tidal Investments LLC increased its stake in shares of GE HealthCare Technologies by 32.5% in the third quarter. Tidal Investments LLC now owns 23,715 shares of the company's stock valued at $2,226,000 after buying an additional 5,819 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of GE HealthCare Technologies by 150.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 11,278 shares of the company's stock valued at $1,058,000 after buying an additional 6,770 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in GE HealthCare Technologies by 44.5% during the 3rd quarter. World Investment Advisors LLC now owns 4,716 shares of the company's stock worth $443,000 after buying an additional 1,453 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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.