HighVista Strategies LLC Lowers Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HighVista Strategies LLC decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,200 shares of the company’s stock after selling 2,900 shares during the period. HighVista Strategies LLC’s holdings in GE HealthCare Technologies were worth $1,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 1,673.3% in 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 stake in shares of GE HealthCare Technologies in the 2nd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth $26,000. Finally, Elkhorn Partners Limited Partnership bought a new stake in shares of GE HealthCare Technologies in the 2nd quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $83.08 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $37.96 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.98 and a beta of 1.08. GE HealthCare Technologies Inc. has a 12 month low of $67.00 and a 12 month high of $94.55. The business’s 50-day moving average is $87.78 and its 200 day moving average is $83.65.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

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

Insiders Place Their Bets

In other GE HealthCare Technologies 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GEHC shares. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BTIG Research raised 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. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a 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 report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.46.

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.