GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 20,766 shares of the company’s stock after selling 1,592 shares during the quarter. Wellington Management Group LLP’s holdings in GE HealthCare Technologies were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in GE HealthCare Technologies by 8.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 12,479 shares of the company’s stock worth $972,000 after purchasing an additional 953 shares during the period. Raymond James & Associates grew its holdings in shares of GE HealthCare Technologies by 10.4% during the second quarter. Raymond James & Associates now owns 381,702 shares of the company’s stock worth $29,742,000 after buying an additional 36,076 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of GE HealthCare Technologies by 2.3% during the second quarter. Fifth Third Bancorp now owns 33,343 shares of the company’s stock worth $2,598,000 after buying an additional 734 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in GE HealthCare Technologies by 2.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 37,472 shares of the company’s stock valued at $2,920,000 after acquiring an additional 879 shares during the last quarter. Finally, Avitas Wealth Management LLC acquired a new stake in GE HealthCare Technologies during the 2nd quarter worth approximately $1,517,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GEHC opened at $77.09 on Thursday. GE HealthCare Technologies Inc. has a 1-year low of $71.31 and a 1-year high of $94.55. The stock has a market cap of $35.22 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.96 and a beta of 1.07. The stock’s 50 day simple moving average is $85.14 and its 200 day simple moving average is $83.75. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its 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. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s 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 analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is presently 3.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GEHC shares. Evercore ISI boosted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group cut shares of 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. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Company 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.