UBS Group Downgrades GE HealthCare Technologies (NASDAQ:GEHC) to Sell

UBS Group cut shares of GE HealthCare Technologies (NASDAQ:GEHC) from a neutral rating to a sell rating in a research report report published on Thursday morning, Marketbeat reports. UBS Group currently has $74.00 target price on the stock, down from their previous target price of $84.00.

A number of other research analysts also recently weighed in on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a neutral rating to a buy rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. Redburn Atlantic raised GE HealthCare Technologies to a strong-buy rating in a report on Thursday, August 1st. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a buy rating and a $100.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a neutral rating and a $90.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a neutral rating and a $87.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of Moderate Buy and an average price target of $93.92.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $91.99 on Thursday. The stock has a 50 day moving average of $85.13 and a 200 day moving average of $83.22. The company has a market capitalization of $41.99 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.40 and a beta of 1.17. GE HealthCare Technologies has a 12 month low of $62.35 and a 12 month high of $94.55. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s revenue was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. As a group, sell-side analysts forecast that GE HealthCare Technologies will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GE HealthCare Technologies

A number of institutional investors have recently added to or reduced their stakes in GEHC. 9258 Wealth Management LLC increased its stake in GE HealthCare Technologies by 5.7% in the 4th quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after acquiring an additional 176 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in GE HealthCare Technologies by 128.6% in the 4th quarter. Orion Portfolio Solutions LLC now owns 22,614 shares of the company’s stock worth $1,749,000 after acquiring an additional 12,721 shares during the last quarter. Advisory Services Network LLC increased its stake in GE HealthCare Technologies by 15.2% in the 4th quarter. Advisory Services Network LLC now owns 12,549 shares of the company’s stock worth $970,000 after acquiring an additional 1,652 shares during the last quarter. Hsbc Holdings PLC increased its stake in GE HealthCare Technologies by 21.1% in the 4th quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock worth $36,408,000 after acquiring an additional 81,916 shares during the last quarter. Finally, United Services Automobile Association bought a new position in GE HealthCare Technologies in the 4th quarter worth about $807,000. 82.06% of the stock is currently 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.