HighVista Strategies LLC Sells 2,900 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HighVista Strategies LLC decreased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,200 shares of the company’s stock after selling 2,900 shares during the period. HighVista Strategies LLC’s holdings in GE HealthCare Technologies were worth $1,239,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Chevy Chase Trust Holdings LLC grew its stake in shares of GE HealthCare Technologies by 5.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 245,869 shares of the company’s stock valued at $23,075,000 after buying an additional 13,061 shares during the last quarter. Cladis Investment Advisory LLC grew its stake in shares of GE HealthCare Technologies by 1.3% during the third quarter. Cladis Investment Advisory LLC now owns 14,826 shares of the company’s stock valued at $1,391,000 after buying an additional 188 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $364,000. Atom Investors LP bought a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $910,000. Finally, Paloma Partners Management Co bought a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $1,325,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 0.2 %

GE HealthCare Technologies stock opened at $83.08 on Tuesday. GE HealthCare Technologies Inc. has a twelve month low of $67.00 and a twelve month high of $94.55. The business has a fifty day moving average of $87.78 and a two-hundred day moving average of $83.65. 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 firm has a market cap of $37.96 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.98 and a beta of 1.08.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS 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 during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the company’s 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 transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective 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. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, Evercore ISI increased 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus target price of $95.46.

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.