CX Institutional Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CX Institutional decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 48.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,852 shares of the company’s stock after selling 2,722 shares during the period. CX Institutional’s holdings in GE HealthCare Technologies were worth $268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies in the first quarter valued at about $25,000. Fred Alger Management LLC acquired a new position in GE HealthCare Technologies during the 2nd quarter worth $26,000. BNP Paribas bought a new stake in shares of GE HealthCare Technologies in the 1st quarter worth about $30,000. Rise Advisors LLC lifted its holdings in GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of GE HealthCare Technologies in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC opened at $90.82 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock’s 50 day simple moving average is $87.75 and its 200-day simple moving average is $83.41. The stock has a market cap of $41.46 billion, a PE ratio of 26.56, a P/E/G ratio of 3.39 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.92 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEHC. Stifel Nicolaus increased their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

Insider Activity

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by company 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.