Perpetual Ltd Cuts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Perpetual Ltd lessened its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,303,218 shares of the company’s stock after selling 90,818 shares during the quarter. GE HealthCare Technologies comprises 1.2% of Perpetual Ltd’s holdings, making the stock its 23rd largest position. Perpetual Ltd owned 0.29% of GE HealthCare Technologies worth $101,886,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new position in GE HealthCare Technologies during the third quarter worth approximately $26,000. Finally, Darwin Wealth Management LLC purchased a new stake in GE HealthCare Technologies in the 3rd quarter valued at $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $84.74 on Tuesday. 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 stock has a market capitalization of $38.72 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. The business has a 50-day moving average of $81.97 and a 200 day moving average of $84.48. GE HealthCare Technologies Inc. has a 12 month low of $71.31 and a 12 month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred 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 directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEHC. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI upped their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, 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 report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.00.

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.