Drake & Associates LLC Acquires Shares of 2,353 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Drake & Associates LLC bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,353 shares of the company’s stock, valued at approximately $221,000.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC lifted its stake in GE HealthCare Technologies by 18.4% in the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after purchasing an additional 119 shares during the last quarter. Wynn Capital LLC lifted its stake in shares of GE HealthCare Technologies by 4.1% during the 1st quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock worth $284,000 after acquiring an additional 122 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after acquiring an additional 127 shares during the period. Quarry LP grew its position in GE HealthCare Technologies by 28.3% in the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after acquiring an additional 131 shares during the last quarter. Finally, Tempus Wealth Planning LLC increased its stake in GE HealthCare Technologies by 0.5% in the second quarter. Tempus Wealth Planning LLC now owns 30,892 shares of the company’s stock worth $2,407,000 after purchasing an additional 141 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 0.7 %

Shares of NASDAQ GEHC opened at $90.82 on Friday. The stock has a market capitalization of $41.46 billion, a PE ratio of 26.56, a PEG ratio of 3.39 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $87.75 and a 200-day simple moving average of $83.41. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.55.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Buying and Selling

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GEHC shares. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus target price of $94.23.

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.