Covestor Ltd Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Covestor Ltd raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 48.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 920 shares of the company’s stock after purchasing an additional 302 shares during the quarter. Covestor Ltd’s holdings in GE HealthCare Technologies were worth $86,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GEHC. Mesirow Financial Investment Management Inc. lifted its holdings in GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after acquiring an additional 1,159 shares during the last quarter. Atria Investments Inc raised its position in GE HealthCare Technologies by 15.2% in the third quarter. Atria Investments Inc now owns 11,833 shares of the company’s stock valued at $1,111,000 after purchasing an additional 1,565 shares during the period. Lindbrook Capital LLC lifted its stake in shares of GE HealthCare Technologies by 14.0% in the 3rd quarter. Lindbrook Capital LLC now owns 2,137 shares of the company’s stock valued at $201,000 after purchasing an additional 263 shares during the last quarter. Klingman & Associates LLC grew its holdings in shares of GE HealthCare Technologies by 109.6% during the 3rd quarter. Klingman & Associates LLC now owns 7,244 shares of the company’s stock worth $680,000 after purchasing an additional 3,788 shares during the period. Finally, Assetmark Inc. increased its position in shares of GE HealthCare Technologies by 37.0% during the 3rd quarter. Assetmark Inc. now owns 2,697 shares of the company’s stock worth $253,000 after purchasing an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 0.9 %

Shares of GE HealthCare Technologies stock opened at $84.18 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. The company has a market capitalization of $38.46 billion, a P/E ratio of 23.13, a P/E/G ratio of 3.05 and a beta of 1.24. The company has a 50 day moving average of $88.85 and a 200 day moving average of $83.48.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal 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 issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 3.30%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GEHC. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Company 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.