GE HealthCare Technologies (NASDAQ:GEHC) Trading Down 1.6% - Here's What Happened

GE HealthCare Technologies Inc. (NASDAQ:GEHC - Get Free Report)'s share price was down 1.6% on Monday . The company traded as low as $77.65 and last traded at $77.65. Approximately 385,448 shares changed hands during trading, a decline of 87% from the average daily volume of 3,078,405 shares. The stock had previously closed at $78.91.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of analyst reports. Evercore ISI boosted 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. UBS Group lowered shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus upped 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. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a "neutral" rating and a $90.00 price objective for the company. Finally, Wells Fargo & Company boosted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $95.46.

GE HealthCare Technologies Trading Up 0.5 %

The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm's 50-day simple moving average is $84.64 and its 200 day simple moving average is $83.81. The stock has a market capitalization of $36.22 billion, a P/E ratio of 21.78, a PEG ratio of 2.96 and a beta of 1.07.

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

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors 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%. This is a boost 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 payout ratio is presently 3.85%.

Insider Activity

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 shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of GE HealthCare Technologies

Hedge funds have recently modified their holdings of the business. Quent Capital LLC boosted its holdings in shares of GE HealthCare Technologies by 18.4% during the third quarter. Quent Capital LLC now owns 766 shares of the company's stock worth $72,000 after purchasing an additional 119 shares during the period. Greenleaf Trust grew its holdings in shares of GE HealthCare Technologies by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company's stock valued at $715,000 after acquiring an additional 124 shares in 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 acquiring an additional 125 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in GE HealthCare Technologies by 8.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company's stock valued at $135,000 after purchasing an additional 127 shares during the last quarter. Finally, Quarry LP grew its stake in GE HealthCare Technologies by 28.3% in the second quarter. Quarry LP now owns 594 shares of the company's stock valued at $46,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors 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.