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

GE HealthCare Technologies Inc. (NASDAQ:GEHC) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $57.65 and last traded at $62.89, with a volume of 3129305 shares traded. The stock had previously closed at $58.75.

Analysts Set New Price Targets

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

GE HealthCare Technologies Stock Performance

The firm has a market cap of $29.72 billion, a P/E ratio of 15.01, a PEG ratio of 3.19 and a beta of 1.14. 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 firm has a fifty day moving average of $83.69 and a 200-day moving average of $84.79.

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

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.22%. GE HealthCare Technologies’s dividend payout ratio is 3.23%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. lifted its holdings in 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 in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of 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 increased its stake in GE HealthCare Technologies by 2.4% during 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 in the last quarter. Tandem Capital Management Corp ADV raised its holdings in GE HealthCare Technologies by 0.4% during the 4th 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 during the period. Finally, Arcus Capital Partners LLC boosted its holdings 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 valued at $322,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.