Gladstone Institutional Advisory LLC Has $336,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Gladstone Institutional Advisory LLC lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 38.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,582 shares of the company’s stock after selling 2,204 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in GE HealthCare Technologies were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GEHC. Janney Montgomery Scott LLC boosted its holdings in GE HealthCare Technologies by 12.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 45,895 shares of the company’s stock worth $4,172,000 after acquiring an additional 4,913 shares during the last quarter. Graypoint LLC bought a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $224,000. Mutual of America Capital Management LLC raised its stake in shares of GE HealthCare Technologies by 6.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 55,651 shares of the company’s stock worth $5,059,000 after purchasing an additional 3,146 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $442,000. Finally, Wellington Shields Capital Management LLC raised its stake in shares of GE HealthCare Technologies by 10.5% during the 1st quarter. Wellington Shields Capital Management LLC now owns 3,323 shares of the company’s stock worth $302,000 after purchasing an additional 315 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

GEHC has been the topic of a number of recent analyst reports. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. 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 research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. One investment 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. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Trading Up 0.0 %

Shares of GE HealthCare Technologies stock opened at $86.99 on Tuesday. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. The stock’s 50-day simple moving average is $88.61 and its 200 day simple moving average is $83.42. The stock has a market capitalization of $39.74 billion, a P/E ratio of 23.90, a P/E/G ratio of 3.25 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.82 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last announced 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 analysts’ expectations of $4.87 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio 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.