GE HealthCare Technologies (NASDAQ:GEHC) Reaches New 52-Week Low – Here’s What Happened

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) hit a new 52-week low on Thursday . The company traded as low as $71.42 and last traded at $71.36, with a volume of 2240633 shares trading hands. The stock had previously closed at $79.36.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GEHC. Citigroup increased their target price 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. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Finally, Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.73.

GE HealthCare Technologies Price Performance

The firm has a market capitalization of $33.04 billion, a PE ratio of 16.69, a P/E/G ratio of 3.19 and a beta of 1.13. The company has a fifty day moving average price of $86.30 and a two-hundred day moving average price of $85.71. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio is currently 3.23%.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in GE HealthCare Technologies in the fourth quarter worth $488,531,000. Capital Research Global Investors increased its position in shares of 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 valued at $4,755,851,000 after buying an additional 2,608,066 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of GE HealthCare Technologies by 107.3% in the 4th 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 in the last quarter. Vanguard Group Inc. grew its stake in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares during the last quarter. Finally, State Street Corp grew its stake in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Institutional investors and hedge funds 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.