Exchange Traded Concepts LLC Acquires 273 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Exchange Traded Concepts LLC boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,949 shares of the company’s stock after buying an additional 273 shares during the quarter. Exchange Traded Concepts LLC’s holdings in GE HealthCare Technologies were worth $856,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its holdings in shares of GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares during the period. LMR Partners LLP purchased a new stake in GE HealthCare Technologies in the third quarter worth $7,387,000. Principal Financial Group Inc. raised its stake in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after buying an additional 19,010 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at $1,396,000. Finally, Everence Capital Management Inc. grew its stake in shares of GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock worth $1,475,000 after acquiring an additional 10,220 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $87.78 on Wednesday. GE HealthCare Technologies Inc. has a 12-month low of $72.50 and a 12-month 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 company has a market cap of $40.10 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. The stock has a 50-day moving average price of $82.55 and a 200-day moving average price of $84.90.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last announced its 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 business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, equities analysts forecast 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. Investors of record on Tuesday, January 14th will be given a $0.035 dividend. 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%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEHC. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price objective 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Read Our Latest Analysis on GEHC

About GE HealthCare Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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