GE HealthCare Technologies (NASDAQ:GEHC) Downgraded by Citigroup to “Neutral”

Citigroup lowered shares of GE HealthCare Technologies (NASDAQ:GEHC) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. Citigroup currently has $83.00 price objective on the stock, down from their prior price objective of $93.00.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of GE HealthCare Technologies in a report on Saturday, September 27th. Wall Street Zen downgraded GE HealthCare Technologies from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Zacks Research downgraded GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Morgan Stanley set a $74.00 price objective on GE HealthCare Technologies in a report on Thursday, September 18th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.78.

GE HealthCare Technologies Stock Down 2.5%

NASDAQ:GEHC opened at $74.49 on Tuesday. GE HealthCare Technologies has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a market cap of $34.01 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.92 and a beta of 1.13. The stock has a fifty day simple moving average of $74.15 and a 200-day simple moving average of $72.46. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

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

GE HealthCare Technologies Announces Dividend

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

Hedge Funds Weigh In On GE HealthCare Technologies

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew its position in GE HealthCare Technologies by 24.3% during the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company’s stock worth $538,000 after purchasing an additional 1,306 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in GE HealthCare Technologies by 17.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company’s stock worth $278,000 after purchasing an additional 511 shares during the last quarter. Lineweaver Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies during the 2nd quarter worth approximately $592,000. Wealth Enhancement Advisory Services LLC grew its position in GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company’s stock worth $4,105,000 after purchasing an additional 9,769 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in GE HealthCare Technologies by 52.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company’s stock worth $357,000 after purchasing an additional 1,550 shares during the last quarter. Institutional investors and hedge funds 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.