GE HealthCare Technologies Inc. (NASDAQ: GEHC) stock jumped 4.35% on Thursday to $79.86 against a previous-day closing price of $76.53. With 3.08 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.96 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $80.06 whereas the lowest price it dropped to was $75.61. The 52-week range on GEHC shows that it touched its highest point at $87.83 and its lowest point at $53.00 during that stretch. It currently has a 1-year price target of $92.40. With its current market cap of 36.47 billion, GEHC has annualized dividend of $0.12 while the current yield stands at 0.15%.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GEHC was up-trending over the past week, with a rise of 0.21%, but this was down by -0.32% over a month. A look at the trailing 12-month EPS for GEHC yields 3.87 with Next year EPS estimates of 4.30. For the next quarter, that number is 0.85. This implies an EPS growth rate of -14.70% for this year and 15.39% for next year.
Float and Shares Shorts:
At present, 454.68 million GEHC shares are outstanding with a float of 453.21 million shares on hand for trading. On May 14, 2023, short shares totaled 5.55 million, which was 1.22% higher than short shares on Apr 13, 2023. In addition to Mr. Peter J. Arduini as the firm’s Pres, CEO & Director, Mr. Helmut Zodl serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 56.98% of GEHC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 37.90% of GEHC, in contrast to 24.84% held by mutual funds. Shares owned by individuals account for 20.11%. As the largest shareholder in GEHC with 10.45% of the stake, Capital Research & Management Co holds 47,520,111 shares worth 47,520,111. A second-largest stockholder of GEHC, The Vanguard Group, Inc., holds 34,581,458 shares, controlling over 7.61% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in GEHC, holding 18,322,262 shares or 4.03% stake. With a 3.38% stake in GEHC, the American Funds Investment Company is the largest stakeholder. A total of 15,351,293 shares are owned by the mutual fund manager. The American Funds Growth Fund of Ame, which owns about 2.53% of GEHC stock, is the second-largest Mutual Fund holder. It holds 11,485,279 shares valued at 934.21 million. Vanguard Total Stock Market ETF holds 2.48% of the stake in GEHC, owning 11,281,472 shares worth 917.63 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GEHC reported revenue of $4.34B and operating income of $509.00M. The EBITDA in the recently reported quarter was $698.00M and diluted EPS was $0.86.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GEHC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GEHC analysts setting a high price target of $97.00 and a low target of $86.00, the average target price over the next 12 months is $92.40. Based on these targets, GEHC could surge 21.46% to reach the target high and rise by 7.69% to reach the target low. Reaching the average price target will result in a growth of 15.7% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GEHC stock several times over the past three months with 15 Buys and 15 Sells. In these transactions, 173,426 shares were bought while 87,657 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 936,225 while 363,682,494 shares were sold.
