GE HealthCare (NASDAQ:GEHC) stock is a hot topic among traders on Wednesday as the spinoff of General Electric (NYSE:GE) makes its public debut.
Let’s go over everything investors need to know about GE HealthCare below!
GEHC Stock Details
- GE HealthCare started trading on the Nasdaq when markets opened this morning.
- The company is based out of Wisconsin and currently employs some 51,000 people.
- Its presence spans 160 countries as it serves more than 1 billion patients per year.
- Annual revenue at GE HealthCare comes in at about $18 billion and it spends roughly $1 billion a year on research and development.
- The company also expects its addressable market to expand from $84 billion in 2021 to $102 billion by 2025.
- GE HealthCare’s spinoff was made via the distribution of GEHC stock to holders of GE shares.
- This saw 80.1% of outstanding GEHC shares distributed to GE shareholders.
- The remaining 19.9% of outstanding shares are held by General Electric.
Peter Arduini, President and CEO of GE HealthCare, said the following in a news release:
“Today is an incredibly exciting day for GE HealthCare as we become an independent company and start a new chapter advancing our position as a global leader in precision care. We are on the verge of true industry transformation as digital innovation reshapes the experience of patients and providers with an increased need for more precise, connected, and efficient care.”
GEHC stock is up 5.4% as of Wednesday morning.
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news for Wednesday! Among that is what has shares of Alibaba (NYSE:BABA) and Salesforce (NYSE:CRM) stock moving today, as well as this morning’s biggest pre-market stock movers. You can find out more on these matters at the links below!
More Wednesday Stock Market News
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.