Arcus Capital Partners LLC Reduces Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Arcus Capital Partners LLC trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,994 shares of the company’s stock after selling 119 shares during the period. Arcus Capital Partners LLC’s holdings in GE HealthCare Technologies were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC grew its position in shares of GE HealthCare Technologies by 259.9% in the first quarter. Empowered Funds LLC now owns 14,138 shares of the company’s stock valued at $1,285,000 after purchasing an additional 10,210 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of GE HealthCare Technologies by 30.6% in the first quarter. Sei Investments Co. now owns 279,336 shares of the company’s stock worth $25,393,000 after buying an additional 65,476 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of GE HealthCare Technologies by 11.3% in the first quarter. Russell Investments Group Ltd. now owns 89,220 shares of the company’s stock valued at $8,110,000 after acquiring an additional 9,045 shares during the period. US Bancorp DE boosted its position in shares of GE HealthCare Technologies by 11.2% in the first quarter. US Bancorp DE now owns 162,996 shares of the company’s stock valued at $14,818,000 after acquiring an additional 16,472 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in GE HealthCare Technologies by 8.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 92,967 shares of the company’s stock valued at $8,452,000 after acquiring an additional 7,232 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GEHC. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Stock Down 0.6 %

NASDAQ GEHC opened at $85.39 on Tuesday. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year 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’s 50-day moving average is $88.92 and its 200 day moving average is $83.48. The stock has a market capitalization of $39.01 billion, a PE ratio of 23.46, a PEG ratio of 3.08 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping 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 period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies 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.