GE HealthCare Technologies Inc. (NASDAQ:GEHC) Holdings Raised by Townsquare Capital LLC

Townsquare Capital LLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,722 shares of the company’s stock after acquiring an additional 1,366 shares during the quarter. Townsquare Capital LLC’s holdings in GE HealthCare Technologies were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GEHC. LGT Financial Advisors LLC lifted its stake in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in GE HealthCare Technologies in the third quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in 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 2nd quarter valued at about $26,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 0.6 %

GEHC opened at $82.57 on Wednesday. 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 firm’s fifty day moving average price is $87.62 and its two-hundred day moving average price is $83.67. GE HealthCare Technologies Inc. has a fifty-two week low of $67.00 and a fifty-two week high of $94.55. The company has a market capitalization of $37.72 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.97 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Analyst Ratings Changes

A number of brokerages have issued reports on GEHC. Evercore ISI upped their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. 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 note on Monday, September 30th. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.46.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

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.