GE HealthCare Technologies (NASDAQ:GEHC) Stock Price Down 1.6% – Should You Sell?

Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) fell 1.6% on Monday . The stock traded as low as $77.65 and last traded at $77.65. 385,448 shares traded hands during trading, a decline of 87% from the average session volume of 3,078,405 shares. The stock had previously closed at $78.91.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI increased their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus boosted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Trading Down 0.2 %

The business has a 50 day moving average price of $84.64 and a 200-day moving average price of $83.81. The company has a market cap of $35.97 billion, a P/E ratio of 21.63, a PEG ratio of 2.96 and a beta of 1.07. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the business posted $0.99 EPS. GE HealthCare Technologies’s revenue was up .9% on a year-over-year basis. Analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GEHC. LGT Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the 2nd quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Finally, Elkhorn Partners Limited Partnership bought a new position in shares of GE HealthCare Technologies in the 2nd quarter worth $31,000. 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.