GE HealthCare Technologies Sees Unusually Large Options Volume (NASDAQ:GEHC)

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the recipient of some unusual options trading on Wednesday. Stock traders bought 8,309 call options on the company. This is an increase of approximately 108% compared to the average volume of 3,999 call options.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Piper Sandler decreased their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup increased their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Finally, Wells Fargo & Company raised their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $96.50.

Hedge Funds Weigh In On GE HealthCare Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cathy Pareto & Associates Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter valued at approximately $670,000. Principal Financial Group Inc. raised its stake in GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after acquiring an additional 19,010 shares during the last quarter. Everence Capital Management Inc. raised its stake in GE HealthCare Technologies by 118.2% in the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock worth $1,475,000 after acquiring an additional 10,220 shares during the last quarter. Apollon Wealth Management LLC lifted its position in GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock worth $1,025,000 after acquiring an additional 4,160 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in shares of GE HealthCare Technologies by 139.9% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 7,484 shares of the company’s stock valued at $585,000 after purchasing an additional 4,364 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 5.4 %

NASDAQ:GEHC opened at $64.96 on Thursday. The stock has a market capitalization of $29.74 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $77.57 and a 200 day moving average of $82.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. As a group, sell-side analysts anticipate that GE HealthCare Technologies will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.22%. GE HealthCare Technologies’s payout ratio is 3.23%.

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.