2,353 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Acquired by Drake & Associates LLC

Drake & Associates LLC bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,353 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEHC. Wellington Management Group LLP lifted its holdings in GE HealthCare Technologies by 575.6% in the fourth quarter. Wellington Management Group LLP now owns 21,118 shares of the company’s stock valued at $1,633,000 after acquiring an additional 17,992 shares during the period. Fisher Asset Management LLC increased its position in shares of GE HealthCare Technologies by 12.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,775 shares of the company’s stock valued at $369,000 after purchasing an additional 535 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $610,000. Mather Group LLC. purchased a new position in shares of GE HealthCare Technologies in the first quarter worth approximately $106,000. Finally, Rise Advisors LLC grew its position in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares during the period. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GEHC. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. 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 report on Wednesday, September 18th. Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Evercore ISI raised their price objective on 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, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.23.

Insider Buying and Selling at GE HealthCare Technologies

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 transaction of $222,145.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Trading Up 0.7 %

GE HealthCare Technologies stock opened at $90.82 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55. The firm’s 50 day moving average price is $87.75 and its 200-day moving average price is $83.41. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The stock has a market cap of $41.46 billion, a P/E ratio of 26.56, a PEG ratio of 3.39 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same period in the previous year, the firm posted $0.92 EPS. GE HealthCare Technologies’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share 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 paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is presently 3.51%.

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.