GE HealthCare Technologies (NASDAQ:GEHC) Trading 0.4% Higher – What’s Next?

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price shot up 0.4% on Thursday . The stock traded as high as $78.18 and last traded at $77.40. 597,391 shares were traded during trading, a decline of 80% from the average session volume of 3,044,881 shares. The stock had previously closed at $77.09.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Evercore ISI lifted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Stock Up 1.9 %

The business’s fifty day simple moving average is $84.64 and its 200 day simple moving average is $83.72. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock has a market cap of $36.05 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results 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 firm 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 quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a 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 is presently 3.85%.

Insiders Place Their Bets

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

Institutional Trading of GE HealthCare Technologies

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in shares of GE HealthCare Technologies by 1.9% during the third 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 in the last quarter. Retirement Systems of Alabama increased its holdings in GE HealthCare Technologies by 7.3% during the 3rd 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 raised its stake in shares of GE HealthCare Technologies by 32.5% in the 3rd quarter. Tidal Investments LLC now owns 23,715 shares of the company’s stock valued at $2,226,000 after purchasing an additional 5,819 shares during the period. Wilmington Savings Fund Society FSB lifted 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 purchasing an additional 6,770 shares in the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of GE HealthCare Technologies by 44.5% during the third 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 during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.