Salem Investment Counselors Inc. Has $8.54 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Salem Investment Counselors Inc. trimmed its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 109,208 shares of the company’s stock after selling 14,117 shares during the period. Salem Investment Counselors Inc.’s holdings in GE HealthCare Technologies were worth $8,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEHC. State Street Corp grew its holdings in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $268,159,000. Charles Schwab Investment Management Inc. lifted its position in shares of GE HealthCare Technologies by 12.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $208,513,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GEHC shares. Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Stock Up 0.6 %

Shares of GEHC stock traded up $0.54 during trading hours on Monday, reaching $85.30. The company had a trading volume of 1,201,451 shares, compared to its average volume of 3,124,237. GE HealthCare Technologies Inc. has a 12 month low of $71.31 and a 12 month high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The business has a fifty day simple moving average of $82.25 and a 200-day simple moving average of $84.18. The company has a market cap of $38.97 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction 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 in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.

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.