Geneos Wealth Management Inc. Makes New $196,000 Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Geneos Wealth Management Inc. purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,503 shares of the company’s stock, valued at approximately $196,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp raised its stake 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 valued at $1,747,101,000 after acquiring an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $1,026,898,000 after purchasing an additional 733,819 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in GE HealthCare Technologies in the third quarter worth about $268,159,000. Charles Schwab Investment Management Inc. grew its position in GE HealthCare Technologies by 12.0% in the 3rd 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 in the last quarter. Finally, Van ECK Associates Corp acquired a new position in GE HealthCare Technologies during the 3rd quarter valued at about $208,513,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’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 transaction, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $89.55 on Friday. GE HealthCare Technologies Inc. has a fifty-two week low of $72.52 and a fifty-two week high of $94.55. The firm’s 50 day simple moving average is $82.76 and its 200-day simple moving average is $84.95. 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 company has a market cap of $40.91 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last posted its quarterly 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. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GEHC shares. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price target on 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 research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.00.

Get Our Latest Stock Report on GEHC

GE HealthCare Technologies Profile

(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.

Further Reading

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

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