Otter Creek Advisors LLC Purchases Shares of 19,426 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Otter Creek Advisors LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,426 shares of the company’s stock, valued at approximately $1,514,000.

A number of other large investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of GE HealthCare Technologies by 6.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,828 shares of the company’s stock worth $605,000 after purchasing an additional 499 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of GE HealthCare Technologies by 44.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,116 shares of the company’s stock worth $473,000 after purchasing an additional 1,876 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in shares of GE HealthCare Technologies by 5.7% during the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after purchasing an additional 176 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of GE HealthCare Technologies by 17.5% during the fourth quarter. Private Advisor Group LLC now owns 27,723 shares of the company’s stock worth $2,143,000 after purchasing an additional 4,127 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in GE HealthCare Technologies by 42.2% in the fourth quarter. Apollon Wealth Management LLC now owns 6,224 shares of the company’s stock valued at $481,000 after acquiring an additional 1,847 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Down 2.5 %

NASDAQ:GEHC opened at $85.09 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The company has a market cap of $38.84 billion, a PE ratio of 24.88, a PEG ratio of 3.17 and a beta of 1.17. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The stock has a 50-day simple moving average of $82.09 and a 200 day simple moving average of $83.50.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s payout ratio is presently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.