Fmr LLC Buys 84,411 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Fmr LLC grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% in the third quarter, HoldingsChannel.com reports. The fund owned 2,165,826 shares of the company’s stock after acquiring an additional 84,411 shares during the quarter. Fmr LLC’s holdings in GE HealthCare Technologies were worth $203,263,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GEHC. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in GE HealthCare Technologies in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies during the third quarter worth $26,000. Darwin Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies during the third quarter worth $31,000. Finally, Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies during the second quarter worth $26,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 0.2 %

Shares of NASDAQ:GEHC opened at $83.08 on Tuesday. GE HealthCare Technologies Inc. has a 1 year low of $67.00 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The business’s 50-day moving average is $87.78 and its 200-day moving average is $83.65. The company has a market capitalization of $37.96 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 2.98 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is 3.85%.

Insider Transactions at GE HealthCare Technologies

In other 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 transaction of $309,338.96. Following 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 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GEHC shares. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. UBS Group lowered shares of 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 report on Thursday, September 26th. Evercore ISI lifted 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. Finally, BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.46.

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.