GE HealthCare Technologies (NASDAQ:GEHC) Reaches New 1-Year Low – Time to Sell?

GE HealthCare Technologies Inc. (NASDAQ:GEHC) shares hit a new 52-week low 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Wells Fargo & Company raised 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, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One 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, the company currently has an average rating of “Moderate Buy” and an average price target of $97.73.

GE HealthCare Technologies Stock Performance

The company’s 50 day simple moving average is $85.41 and its 200 day simple moving average is $85.44. The stock has a market cap of $27.67 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating 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 firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current 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 issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s payout ratio is 3.23%.

Hedge Funds Weigh In On GE HealthCare Technologies

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Capital Research Global Investors boosted its holdings in 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 worth $4,755,851,000 after purchasing an additional 2,608,066 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after purchasing an additional 2,506,417 shares during the period. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. Finally, State Street Corp increased its stake in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

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.