J.W. Cole Advisors Inc. Sells 263 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

J.W. Cole Advisors Inc. reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,017 shares of the company’s stock after selling 263 shares during the period. J.W. Cole Advisors Inc.’s holdings in GE HealthCare Technologies were worth $283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares during the last quarter. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of GE HealthCare Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after purchasing an additional 189,956 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of GE HealthCare Technologies by 2.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after buying an additional 20,776 shares during the period. Finally, Stonegate Investment Group LLC raised its stake in GE HealthCare Technologies by 1.0% during the third quarter. Stonegate Investment Group LLC now owns 979,649 shares of the company’s stock worth $91,940,000 after buying an additional 9,572 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEHC shares. 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 price target for the company. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. Evercore ISI lifted their price objective 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, Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Price Performance

GEHC stock opened at $87.35 on Friday. The company has a market capitalization of $39.89 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. GE HealthCare Technologies Inc. has a 52-week low of $65.77 and a 52-week high of $94.55. The business has a 50-day simple moving average of $88.57 and a two-hundred day simple moving average of $83.44. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.26% and a net margin of 8.10%. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Research analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

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.