GE HealthCare Technologies (NASDAQ:GEHC) Reaches New 12-Month Low – What’s Next?

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) reached a new 52-week low during mid-day trading 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.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.73.

GE HealthCare Technologies Stock Performance

The stock’s 50 day moving average price is $86.30 and its 200 day moving average price is $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. The firm has a market cap of $33.04 billion, a PE ratio of 16.69, a P/E/G ratio of 3.19 and a beta of 1.13.

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

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.23%.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. increased its position in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after acquiring an additional 114 shares during the last quarter. Independence Bank of Kentucky grew its stake in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after purchasing an additional 114 shares in the last quarter. Haverford Trust Co raised its position in shares of GE HealthCare Technologies by 2.4% in the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after purchasing an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV grew its position in shares of GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock worth $2,205,000 after buying an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC increased its stake in shares of GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds 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.