GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Cut by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,208 shares of the company’s stock after selling 14,117 shares during the period. Salem Investment Counselors Inc.’s holdings in GE HealthCare Technologies were worth $8,538,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GEHC. LGT Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Finally, Elkhorn Partners Limited Partnership bought a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at approximately $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 0.6 %

Shares of GEHC traded up $0.54 on Monday, hitting $85.30. The company’s stock had a trading volume of 1,201,451 shares, compared to its average volume of 3,124,237. 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’s fifty day moving average price is $82.25 and its 200-day moving average price is $84.18. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The firm has a market capitalization of $38.97 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s 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 transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of recent analyst reports. 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. 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. Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Evercore ISI lifted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

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.