GE HealthCare Technologies (NASDAQ:GEHC) Shares Gap Down – Time to Sell?

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $72.00, but opened at $63.36. GE HealthCare Technologies shares last traded at $62.65, with a volume of 3,218,313 shares changing hands.

Analyst Upgrades and Downgrades

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

GE HealthCare Technologies Stock Performance

The stock has a market cap of $27.67 billion, a P/E ratio of 13.97, a PEG ratio of 3.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company has a fifty day moving average of $85.41 and a 200 day moving average of $85.43.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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 the consensus estimate of $5.33 billion. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.23%.

Institutional Trading of GE HealthCare Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in GEHC. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $25,000. Continuum Advisory LLC grew its holdings in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth $28,000. LGT Financial Advisors LLC raised its position in shares of GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company’s stock worth $30,000 after purchasing an additional 123 shares during the period. Finally, Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at $30,000. 82.06% of the stock is currently 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.