Apollon Wealth Management LLC Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Apollon Wealth Management LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,951 shares of the company’s stock after purchasing an additional 1,448 shares during the quarter. Apollon Wealth Management LLC’s holdings in GE HealthCare Technologies were worth $840,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Addison Advisors LLC boosted its stake in GE HealthCare Technologies by 117.5% in the third quarter. Addison Advisors LLC now owns 1,612 shares of the company’s stock worth $151,000 after buying an additional 871 shares in the last quarter. Patten & Patten Inc. TN boosted its stake in GE HealthCare Technologies by 4.8% in the third quarter. Patten & Patten Inc. TN now owns 6,294 shares of the company’s stock worth $591,000 after buying an additional 289 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in GE HealthCare Technologies in the third quarter worth approximately $26,000. Crossmark Global Holdings Inc. boosted its stake in GE HealthCare Technologies by 24.1% in the third quarter. Crossmark Global Holdings Inc. now owns 9,267 shares of the company’s stock worth $870,000 after buying an additional 1,801 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in GE HealthCare Technologies in the third quarter worth approximately $207,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GEHC. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped 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. 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 objective for the company. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $81.76 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The company has a market cap of $37.35 billion, a PE ratio of 22.46, a P/E/G ratio of 3.02 and a beta of 1.24. The business has a 50 day moving average of $88.70 and a 200 day moving average of $83.43. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Profile

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.