Financial Enhancement Group LLC Makes New $2.35 Million Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Financial Enhancement Group LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,071 shares of the company’s stock, valued at approximately $2,353,000.

Several other institutional investors have also recently made changes to their positions in GEHC. Pathway Financial Advisers LLC purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $25,000. LGT Financial Advisors LLC increased its position in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $26,000. Elkhorn Partners Limited Partnership purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at about $31,000. Finally, ORG Partners LLC grew its stake in shares of GE HealthCare Technologies by 2,475.0% during the 2nd quarter. ORG Partners LLC now owns 412 shares of the company’s stock valued at $32,000 after acquiring an additional 396 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GEHC. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus boosted their target price 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. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $86.78 on Thursday. The company has a market capitalization of $39.65 billion, a PE ratio of 23.84, a P/E/G ratio of 3.12 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a fifty-two week low of $66.39 and a fifty-two week high of $94.55. The company has a 50 day moving average price of $88.74 and a 200-day moving average price of $83.46.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s payout ratio is currently 3.30%.

About GE HealthCare Technologies

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.