GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Position Boosted by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,898 shares of the company’s stock after purchasing an additional 638 shares during the period. Summit Trail Advisors LLC’s holdings in GE HealthCare Technologies were worth $460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at $208,513,000. Massachusetts Financial Services Co. MA bought a new stake in GE HealthCare Technologies in the third quarter worth about $93,713,000. Marshall Wace LLP acquired a new stake in GE HealthCare Technologies in the 2nd quarter valued at about $63,639,000. International Assets Investment Management LLC boosted its position in shares of GE HealthCare Technologies by 10,227.3% during the 3rd quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after purchasing an additional 615,891 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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. 82.06% of the stock is owned by institutional investors.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 0.2 %

Shares of GEHC opened at $82.51 on Wednesday. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.95 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The stock’s 50-day moving average price is $88.27 and its 200 day moving average price is $83.62.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue was up .9% on a year-over-year basis. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

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

Analysts Set New Price Targets

GEHC has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Evercore ISI lifted 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, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.36.

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.