GE HealthCare Technologies (NASDAQ:GEHC) Cut to Hold at Zacks Research

Zacks Research cut shares of GE HealthCare Technologies (NASDAQ:GEHC) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a report on Thursday, September 18th. Wall Street Zen downgraded shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Citigroup lifted their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $86.89.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $75.51 on Monday. The company has a market capitalization of $34.47 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.87 and a beta of 1.13. GE HealthCare Technologies has a one year low of $57.65 and a one year high of $94.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The company’s fifty day moving average price is $74.27 and its 200 day moving average price is $72.69.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, analysts expect that GE HealthCare Technologies will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is presently 2.87%.

Institutional Trading of GE HealthCare Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in GE HealthCare Technologies by 1.4% in the second quarter. Vanguard Group Inc. now owns 52,107,758 shares of the company’s stock valued at $3,859,622,000 after acquiring an additional 703,903 shares during the period. Dodge & Cox increased its stake in GE HealthCare Technologies by 42.1% in the second quarter. Dodge & Cox now owns 23,567,950 shares of the company’s stock valued at $1,745,678,000 after acquiring an additional 6,982,441 shares during the period. State Street Corp increased its stake in GE HealthCare Technologies by 1.9% in the second quarter. State Street Corp now owns 19,660,742 shares of the company’s stock valued at $1,456,271,000 after acquiring an additional 372,755 shares during the period. Geode Capital Management LLC increased its stake in GE HealthCare Technologies by 2.0% in the second quarter. Geode Capital Management LLC now owns 11,944,407 shares of the company’s stock valued at $881,060,000 after acquiring an additional 231,302 shares during the period. Finally, Norges Bank bought a new stake in GE HealthCare Technologies in the second quarter valued at about $468,120,000. 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.