Lake Street Advisors Group LLC Takes $239,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lake Street Advisors Group LLC bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,549 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Ballentine Partners LLC lifted its holdings in shares of GE HealthCare Technologies by 8.4% during the 3rd quarter. Ballentine Partners LLC now owns 7,189 shares of the company’s stock worth $675,000 after acquiring an additional 559 shares during the period. Busey Bank raised its position in GE HealthCare Technologies by 9.7% in the third quarter. Busey Bank now owns 4,514 shares of the company’s stock worth $424,000 after purchasing an additional 401 shares in the last quarter. Dakota Wealth Management bought a new position in GE HealthCare Technologies during the third quarter worth about $210,000. Valicenti Advisory Services Inc. boosted its holdings in GE HealthCare Technologies by 0.8% during the third quarter. Valicenti Advisory Services Inc. now owns 27,426 shares of the company’s stock valued at $2,574,000 after purchasing an additional 210 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of GE HealthCare Technologies by 10.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,735 shares of the company’s stock valued at $1,289,000 after purchasing an additional 1,256 shares during the period. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.23.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies 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 sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Down 0.5 %

NASDAQ:GEHC opened at $88.42 on Monday. The stock’s fifty day moving average price is $88.42 and its two-hundred day moving average price is $83.41. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 3.34 and a beta of 1.18. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion for 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 firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 earnings per share. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 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.