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

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

Analysts Set New Price Targets

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

GE HealthCare Technologies Stock Performance

The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $27.67 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 3.19 and a beta of 1.13. The stock’s fifty day moving average is $85.41 and its 200-day moving average is $85.44.

GE HealthCare Technologies (NASDAQ:GEHC) last released 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. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 3.23%.

Hedge Funds Weigh In On GE HealthCare Technologies

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