GE HealthCare Technologies (NASDAQ:GEHC) Shares Gap Down to $88.94

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) gapped down prior to trading on Tuesday . The stock had previously closed at $88.94, but opened at $81.04. GE HealthCare Technologies shares last traded at $80.07, with a volume of 3,435,764 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on GEHC. Mizuho lifted their price objective on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. HSBC assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price on the stock. Argus lifted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Finally, Morgan Stanley boosted their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $95.09.

GE HealthCare Technologies Price Performance

The stock’s 50-day moving average price is $88.98 and its 200-day moving average price is $78.75. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. GE HealthCare Technologies’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.97%.

Institutional Investors Weigh In On GE HealthCare Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC boosted its holdings in GE HealthCare Technologies by 8.8% during the first quarter. Perigon Wealth Management LLC now owns 7,793 shares of the company’s stock worth $708,000 after purchasing an additional 633 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in GE HealthCare Technologies during the first quarter worth $284,000. Commonwealth Equity Services LLC lifted its stake in GE HealthCare Technologies by 10.7% in the first quarter. Commonwealth Equity Services LLC now owns 161,113 shares of the company’s stock valued at $14,647,000 after acquiring an additional 15,615 shares during the last quarter. Greenleaf Trust lifted its stake in GE HealthCare Technologies by 6.8% in the first quarter. Greenleaf Trust now owns 6,968 shares of the company’s stock valued at $633,000 after acquiring an additional 446 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in GE HealthCare Technologies by 17.3% in the first quarter. Principal Financial Group Inc. now owns 1,042,405 shares of the company’s stock valued at $94,765,000 after acquiring an additional 153,788 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

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.