Old Port Advisors Acquires New Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Old Port Advisors bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,270 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in shares of GE HealthCare Technologies by 0.9% during the second quarter. Commonwealth Equity Services LLC now owns 162,624 shares of the company’s stock valued at $12,672,000 after purchasing an additional 1,511 shares during the period. Farther Finance Advisors LLC raised its position in shares of GE HealthCare Technologies by 8.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,077 shares of the company’s stock worth $311,000 after buying an additional 327 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of GE HealthCare Technologies by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 802,154 shares of the company’s stock worth $62,504,000 after acquiring an additional 34,307 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of GE HealthCare Technologies by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 36,482 shares of the company’s stock valued at $2,843,000 after acquiring an additional 176 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in shares of GE HealthCare Technologies by 9.8% during the second quarter. Foundations Investment Advisors LLC now owns 3,087 shares of the company’s stock valued at $241,000 after acquiring an additional 276 shares during the period. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $78.38 on Friday. The company has a market capitalization of $35.81 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies Inc. has a 1-year low of $71.31 and a 1-year high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $82.61 and its 200-day simple moving average is $83.88.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The company 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 business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 EPS. On average, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently 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 stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.

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.