GE HealthCare Technologies (NASDAQ:GEHC) Shares Gap Down to $88.94

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $88.94, but opened at $81.04. GE HealthCare Technologies shares last traded at $80.07, with a volume of 3,435,764 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Argus boosted their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Mizuho upped their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Citigroup upped their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.09.

GE HealthCare Technologies Stock Down 12.9 %

The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $88.98 and a 200-day moving average price of $78.75. The firm has a market capitalization of $35.35 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 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 Wednesday, May 15th. Investors of record on Friday, April 19th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.97%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. grew its position in GE HealthCare Technologies by 36,900.0% in the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after acquiring an additional 369 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at $26,000. ORG Partners LLC raised its stake in GE HealthCare Technologies by 174.2% in the third quarter. ORG Partners LLC now owns 425 shares of the company’s stock valued at $29,000 after buying an additional 270 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at $29,000. 82.06% of the stock is currently owned by hedge funds and other 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.