Financial Enhancement Group LLC Buys Shares of 25,071 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Financial Enhancement Group LLC acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,071 shares of the company’s stock, valued at approximately $2,353,000.

A number of other institutional investors have also made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in shares of GE HealthCare Technologies by 12.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 45,895 shares of the company’s stock worth $4,172,000 after buying an additional 4,913 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in GE HealthCare Technologies by 6.0% in the first quarter. Mutual of America Capital Management LLC now owns 55,651 shares of the company’s stock valued at $5,059,000 after buying an additional 3,146 shares during the period. Texas Permanent School Fund Corp boosted its stake in GE HealthCare Technologies by 8.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 87,572 shares of the company’s stock worth $7,961,000 after acquiring an additional 6,738 shares during the last quarter. Empirical Finance LLC grew its stake in GE HealthCare Technologies by 3.8% in the first quarter. Empirical Finance LLC now owns 13,618 shares of the company’s stock valued at $1,238,000 after acquiring an additional 497 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of GE HealthCare Technologies by 31.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 54,996 shares of the company’s stock valued at $5,000,000 after purchasing an additional 13,134 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GEHC. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Stock Down 1.6 %

GEHC stock opened at $86.78 on Thursday. GE HealthCare Technologies Inc. has a fifty-two week low of $66.39 and a fifty-two week high of $94.55. The company has a market cap of $39.65 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 3.12 and a beta of 1.24. The stock’s 50 day simple moving average is $88.74 and its 200 day simple moving average is $83.46. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (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 company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the company posted $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.30%.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of the 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 sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

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.