Greenwood Capital Associates LLC Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)
Greenwood Capital Associates LLC increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 84,701 shares of the company’s stock after buying an additional 4,637 shares during the quarter. Greenwood Capital Associates LLC’s holdings in GE HealthCare Technologies were worth $6,549,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its holdings in shares of GE HealthCare Technologies by 18.4% in the third quarter. Janney Montgomery Scott LLC now owns 42,586 shares of the company’s stock worth $2,898,000 after acquiring an additional 6,609 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of GE HealthCare Technologies by 166.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 19,990 shares of the company’s stock valued at $1,360,000 after purchasing an additional 12,500 shares during the period. Rhumbline Advisers increased its position in shares of GE HealthCare Technologies by 10.9% during the 3rd quarter. Rhumbline Advisers now owns 741,604 shares of the company’s stock valued at $50,459,000 after purchasing an additional 73,074 shares during the last quarter. Prudential PLC boosted its holdings in shares of GE HealthCare Technologies by 10.0% in the third quarter. Prudential PLC now owns 19,848 shares of the company’s stock worth $1,350,000 after buying an additional 1,804 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in GE HealthCare Technologies by 30.4% during the third quarter. Rafferty Asset Management LLC now owns 167,735 shares of the company’s stock valued at $11,413,000 after buying an additional 39,147 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.
GE HealthCare Technologies Price Performance
NASDAQ:GEHC opened at $76.49 on Monday. The company has a market capitalization of $34.91 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.75 and a beta of 1.22. The business’s 50-day moving average is $81.37 and its 200 day moving average is $81.13. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.90 EPS 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 firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the company earned $0.85 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.
GE HealthCare Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.
Analysts Set New Price Targets
Several research firms have weighed in on GEHC. Argus increased their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Mizuho lowered their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Citigroup increased their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.09.
View Our Latest Stock Analysis on GEHC
Insider Activity
In related news, insider Frank R. Jimenez acquired 1,315 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were acquired 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 approximately $5,799,909.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Frank R. Jimenez purchased 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jan Makela sold 66,955 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,482 shares of company stock worth $7,369,137. 0.27% of the stock is currently owned by corporate insiders.
GE HealthCare Technologies Profile
(Free Report)
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.
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