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Why is Ge Healthcare Technologies Inc (GEHC) Stock down?
We've noticed a 14.28% decline in Ge Healthcare Technologies Inc (GEHC) stock during the 2024-04-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Nov, 2023:
GE HealthCare Technologies Inc Stock (GEHC) dropped by 3.49% from $73.71 to $71.14 in the trading on Monday November 27, 2023. The reason why GEHC stock down today is due to the stock downgrade from the analyst. UBS downgraded the stock to sell from neutral and cut its price target to $66 from $86, warning of margin disappointments ahead.
- Analysts, led by Graham Doyle, noted that a recent decrease in order momentum, challenging comparisons, and a lack of favorable pricing conditions have left them with earnings metrics below consensus.
- The analysts referred to the recent decline in activity in the Chinese medical sector, prompted by a government crackdown on corruption among doctors and senior hospital staff.
- The analysts highlighted that it will take several years of increased research and development costs for GE Healthcare to effectively compete in the high-end imaging market
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