GE HealthCare Technologies (NASDAQ:GEHC) Shares Down 5.9% – Here’s What Happened

GE HealthCare Technologies Inc. (NASDAQ:GEHC)’s share price was down 5.9% on Tuesday . The company traded as low as $61.43 and last traded at $61.4680. 1,141,945 shares traded hands during trading, a decline of 74% from the average daily volume of 4,315,394 shares. The stock had previously closed at $65.31.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GEHC shares. Citigroup reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. Jefferies Financial Group decreased their target price on GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. BNP Paribas Exane cut their price target on GE HealthCare Technologies from $95.00 to $88.00 in a research note on Friday, May 1st. Piper Sandler lowered their price target on shares of GE HealthCare Technologies from $88.00 to $74.00 in a research report on Thursday, April 30th. Finally, Argus reduced their price objective on shares of GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $79.48.

GE HealthCare Technologies Stock Down 6.2%

The company has a 50 day moving average of $63.52 and a 200-day moving average of $72.45. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.22 and a quick ratio of 0.95. The company has a market cap of $27.86 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.72.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.08). The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, July 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is presently 3.35%.

Insiders Place Their Bets

In related news, Director Kevin Lobo bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the acquisition, the director directly owned 14,363 shares of the company’s stock, valued at $921,817.34. The trade was a 229.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter J. Arduini purchased 4,169 shares of GE HealthCare Technologies stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $59.92 per share, for a total transaction of $249,806.48. Following the completion of the transaction, the chief executive officer owned 259,424 shares in the company, valued at $15,544,686.08. The trade was a 1.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 21,847 shares of company stock worth $1,361,355. 0.36% of the stock is owned by corporate insiders.

Institutional Trading of GE HealthCare Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $26,000. Optima Capital LLC purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth $27,000. Godfrey Financial Associates Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth $27,000. Montag A & Associates Inc. raised its holdings in GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock valued at $28,000 after buying an additional 175 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock valued at $28,000 after buying an additional 262 shares during the period. Institutional investors own 82.06% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.