Strategic Advisors LLC Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Strategic Advisors LLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,906 shares of the company’s stock after buying an additional 599 shares during the period. Strategic Advisors LLC’s holdings in GE HealthCare Technologies were worth $2,150,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies in the 1st quarter worth approximately $25,000. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies in the second quarter worth $26,000. BNP Paribas bought a new stake in GE HealthCare Technologies during the 1st quarter valued at $30,000. Rise Advisors LLC boosted its position in GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares during the period. Finally, Riverview Trust Co bought a new stake in GE HealthCare Technologies in the 1st quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $94.23.

GE HealthCare Technologies Stock Down 0.3 %

Shares of NASDAQ:GEHC traded down $0.29 during midday trading on Thursday, reaching $90.48. The company’s stock had a trading volume of 523,853 shares, compared to its average volume of 3,050,377. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $86.69 and a 200-day moving average of $83.33. The firm has a market capitalization of $41.30 billion, a P/E ratio of 26.54, a PEG ratio of 3.40 and a beta of 1.18. 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 announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies 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.