Delta Financial Group Inc. Decreases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Delta Financial Group Inc. trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.5% during the third quarter, Holdings Channel.com reports. The fund owned 7,650 shares of the company’s stock after selling 622 shares during the period. Delta Financial Group Inc.’s holdings in GE HealthCare Technologies were worth $718,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Farmers Trust Co. acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $221,000. Czech National Bank lifted its stake in GE HealthCare Technologies by 15.0% in the 3rd quarter. Czech National Bank now owns 93,026 shares of the company’s stock valued at $8,730,000 after buying an additional 12,147 shares in the last quarter. Central Pacific Bank Trust Division increased its position in GE HealthCare Technologies by 8.4% during the third quarter. Central Pacific Bank Trust Division now owns 5,348 shares of the company’s stock worth $502,000 after buying an additional 415 shares in the last quarter. M&R Capital Management Inc. acquired a new position in shares of GE HealthCare Technologies in the third quarter worth $33,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at $1,382,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEHC. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.23.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $89.88 on Friday. The company has a market cap of $41.03 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $85.83 and a two-hundred day moving average price of $83.33. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is currently 3.51%.

About GE HealthCare Technologies

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.