Wealth Enhancement Advisory Services LLC Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wealth Enhancement Advisory Services LLC reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 45.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,451 shares of the company’s stock after selling 25,237 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in GE HealthCare Technologies were worth $2,858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in GE HealthCare Technologies during the first quarter worth about $25,000. BNP Paribas acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter worth approximately $30,000. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies in the 2nd quarter valued at approximately $26,000. M&R Capital Management Inc. acquired a new position in GE HealthCare Technologies during the third quarter worth $33,000. Finally, Elkhorn Partners Limited Partnership purchased a new stake in GE HealthCare Technologies during the second quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GEHC. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $86.95 on Friday. The stock has a fifty day moving average price of $88.61 and a 200 day moving average price of $83.45. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55. The firm has a market capitalization of $39.71 billion, a P/E ratio of 23.89, a PEG ratio of 3.26 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the company posted $0.99 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is currently 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.