GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Raised by Avity Investment Management Inc.

Avity Investment Management Inc. boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,601 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Avity Investment Management Inc.’s holdings in GE HealthCare Technologies were worth $691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC raised its holdings in GE HealthCare Technologies by 49.4% during the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after buying an additional 399,961 shares during the period. South Dakota Investment Council increased its holdings in shares of GE HealthCare Technologies by 272.1% in the 4th quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after purchasing an additional 71,857 shares during the period. US Bancorp DE increased its holdings in shares of GE HealthCare Technologies by 83.4% in the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after purchasing an additional 66,638 shares during the period. Cerity Partners LLC increased its holdings in shares of GE HealthCare Technologies by 27.2% in the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after purchasing an additional 9,809 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of GE HealthCare Technologies by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after purchasing an additional 1,250 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jan Makela sold 20,227 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares in the company, valued at approximately $5,167,296.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 over the last three months. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC traded down $0.90 during midday trading on Friday, reaching $77.92. The company’s stock had a trading volume of 9,422,475 shares, compared to its average volume of 2,701,271. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The company has a market capitalization of $35.57 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.83 and a beta of 1.22. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The business’s fifty day simple moving average is $79.85 and its 200-day simple moving average is $81.73.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a $0.03 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEHC. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Citigroup boosted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Mizuho lowered their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Finally, Evercore ISI boosted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $94.09.

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.