GE HealthCare Technologies (NASDAQ:GEHC) Rating Lowered to Sell at UBS Group

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

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

GE HealthCare Technologies Price Performance

GEHC opened at $91.99 on Thursday. The stock’s 50 day simple moving average is $85.13 and its 200 day simple moving average is $83.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. GE HealthCare Technologies has a 1 year low of $62.35 and a 1 year high of $94.55. The firm has a market cap 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 (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same period last year, the company earned $0.92 EPS. GE HealthCare Technologies’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, analysts predict 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 given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of GE HealthCare Technologies

Large investors have recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies in the first quarter worth $25,000. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies during the second quarter valued at $26,000. BNP Paribas purchased a new position in shares of GE HealthCare Technologies in the first quarter valued at about $30,000. Rise Advisors LLC lifted its position in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of GE HealthCare Technologies in the first quarter valued at about $31,000. Institutional investors own 82.06% of the company’s stock.

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.