GE HealthCare Technologies (NASDAQ:GEHC) Shares Down 2.9%

GE HealthCare Technologies Inc. (NASDAQ:GEHC) shares fell 2.9% during mid-day trading on Thursday . The company traded as low as $89.38 and last traded at $90.29. 715,577 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 3,012,953 shares. The stock had previously closed at $93.01.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEHC. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday. Finally, Stifel Nicolaus assumed coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.92.

GE HealthCare Technologies Price Performance

The company has a fifty day moving average price of $85.13 and a two-hundred day moving average price of $83.32. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a market cap of $41.99 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in GE HealthCare Technologies during the second quarter worth about $1,382,000. Cetera Investment Advisers raised its stake in shares of GE HealthCare Technologies by 7.7% in the 2nd quarter. Cetera Investment Advisers now owns 73,713 shares of the company’s stock valued at $5,744,000 after purchasing an additional 5,239 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of GE HealthCare Technologies in the second quarter valued at $534,000. EP Wealth Advisors LLC lifted its stake in GE HealthCare Technologies by 3.2% in the second quarter. EP Wealth Advisors LLC now owns 6,587 shares of the company’s stock valued at $513,000 after acquiring an additional 207 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $272,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.