First Hawaiian Bank Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

First Hawaiian Bank grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,011 shares of the company’s stock after buying an additional 1,314 shares during the period. First Hawaiian Bank’s holdings in GE HealthCare Technologies were worth $2,346,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GEHC. State Street Corp increased its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $268,159,000. Charles Schwab Investment Management Inc. raised its position in shares of GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after buying an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $208,513,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $86.26 on Thursday. The firm has a fifty day moving average of $82.31 and a 200-day moving average of $84.04. GE HealthCare Technologies Inc. has a 52-week low of $71.31 and a 52-week high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $39.41 billion, a P/E ratio of 23.70, a PEG ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS 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. 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 annualized dividend and a yield of 0.16%. GE HealthCare Technologies’s payout ratio is 3.85%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $103.00 in a research note on Wednesday. Stifel Nicolaus upped their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, BTIG Research raised 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 report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.00.

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.