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

Zacks Research downgraded shares of GE HealthCare Technologies (NASDAQ:GEHC) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

GEHC has been the subject of a number of other reports. Oppenheimer restated an “outperform” rating and set a $85.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, April 30th. The Goldman Sachs Group restated a “neutral” rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. BTIG Research reaffirmed a “buy” rating and set a $75.00 price objective on shares of GE HealthCare Technologies in a research report on Monday, July 13th. BNP Paribas Exane dropped their price objective on shares of GE HealthCare Technologies from $95.00 to $88.00 in a research note on Friday, May 1st. Finally, Mizuho cut their target price on shares of GE HealthCare Technologies from $90.00 to $80.00 in a research report on Thursday, April 30th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.41.

GE HealthCare Technologies Price Performance

GEHC opened at $61.99 on Tuesday. The stock has a fifty day moving average of $63.64 and a 200-day moving average of $71.31. The firm has a market capitalization of $28.20 billion, a P/E ratio of 14.83, a PEG ratio of 1.67 and a beta of 0.72. GE HealthCare Technologies has a 12-month low of $58.75 and a 12-month high of $89.77. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.08). The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.04 billion. GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts forecast that GE HealthCare Technologies will post 4.89 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be issued a $0.035 dividend. The ex-dividend date is Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is currently 3.35%.

Insider Activity

In related news, Director Rodney F. Hochman bought 1,618 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $62.03 per share, for a total transaction of $100,364.54. Following the completion of the acquisition, the director directly owned 1,618 shares in the company, valued at approximately $100,364.54. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank R. Jimenez bought 1,750 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $60.45 per share, for a total transaction of $105,787.50. Following the completion of the acquisition, the insider owned 93,932 shares of the company’s stock, valued at approximately $5,678,189.40. This represents a 1.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 21,847 shares of company stock valued at $1,361,355. Corporate insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GEHC. Empowered Funds LLC raised its position in shares of GE HealthCare Technologies by 6.1% in the first quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock valued at $2,328,000 after purchasing an additional 1,665 shares during the period. Acadian Asset Management LLC bought a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $259,000. Cresset Asset Management LLC grew its stake in GE HealthCare Technologies by 12.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock valued at $578,000 after buying an additional 865 shares during the last quarter. Jump Financial LLC grew its stake in GE HealthCare Technologies by 317.6% in the 2nd quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock valued at $2,084,000 after buying an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in GE HealthCare Technologies by 8.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock worth $299,000 after acquiring an additional 320 shares during the period. 82.06% of the stock is owned by institutional investors.

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.