GE HealthCare Technologies Target of Unusually Large Options Trading (NASDAQ:GEHC)

GE HealthCare Technologies Inc. (NASDAQ:GEHC) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 9,335 call options on the stock. This is an increase of approximately 96% compared to the typical daily volume of 4,757 call options.

GE HealthCare Technologies Stock Down 3.0 %

GEHC opened at $82.32 on Friday. GE HealthCare Technologies has a fifty-two week low of $66.39 and a fifty-two week high of $94.55. The company has a market capitalization of $37.61 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.96 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm’s fifty day moving average price is $88.44 and its two-hundred day moving average price is $83.57.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, analysts anticipate that GE HealthCare Technologies will post 4.29 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Analyst Ratings Changes

GEHC has been the topic of a number of recent analyst reports. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.36.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GEHC. D1 Capital Partners L.P. acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $268,159,000. Capital Research Global Investors increased its holdings in shares of GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $208,513,000. State Street Corp grew its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at $93,713,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.