Douglas Lane & Associates LLC Acquires 20,415 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Douglas Lane & Associates LLC grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 480,419 shares of the company’s stock after purchasing an additional 20,415 shares during the quarter. Douglas Lane & Associates LLC’s holdings in GE HealthCare Technologies were worth $37,559,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GEHC. State Street Corp increased its stake in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after acquiring an additional 733,819 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies in the third quarter worth $268,159,000. Charles Schwab Investment Management Inc. raised its position in shares of GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies during the 3rd quarter valued at about $208,513,000. 82.06% of the stock is owned by institutional investors.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. 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 insiders.

GE HealthCare Technologies Price Performance

GEHC traded up $3.37 on Wednesday, reaching $86.74. 2,624,230 shares of the company’s stock were exchanged, compared to its average volume of 3,006,493. GE HealthCare Technologies Inc. has a twelve month low of $71.31 and a twelve month high of $94.55. The stock has a market cap of $39.63 billion, a PE ratio of 23.83, a P/E/G ratio of 2.90 and a beta of 1.11. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock’s fifty day moving average price is $82.33 and its 200-day moving average price is $84.02.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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. The company had revenue of $4.86 billion during 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 firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $103.00 in a research note on Wednesday. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Evercore ISI upped their target price on shares of 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, Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average price target 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.