GE HealthCare Technologies (NASDAQ:GEHC) Shares Gap Down – What’s Next?

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s stock price gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted 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. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Citigroup lifted 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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 P/E ratio of 13.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The firm’s 50-day moving average is $85.41 and its two-hundred day moving average is $85.43.

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

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid 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 presently 3.23%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company’s stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares during the period. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. State Street Corp lifted its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock valued at $882,777,000 after acquiring an additional 342,819 shares during the period. Finally, Invesco Ltd. grew its position in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock valued at $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. 82.06% of the stock is 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.