Schear Investment Advisers LLC Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Schear Investment Advisers LLC lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,886 shares of the company’s stock after purchasing an additional 318 shares during the period. Schear Investment Advisers LLC’s holdings in GE HealthCare Technologies were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GEHC. Capital Research Global Investors lifted its stake in GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Van ECK Associates Corp acquired a new stake in GE HealthCare Technologies in the 3rd quarter valued at about $208,513,000. The Manufacturers Life Insurance Company raised its holdings in GE HealthCare Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after acquiring an additional 189,956 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in GE HealthCare Technologies by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock valued at $95,952,000 after acquiring an additional 23,448 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on GEHC shares. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company increased their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Stock Down 1.4 %

GE HealthCare Technologies stock opened at $81.76 on Friday. 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 debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a 50 day moving average price of $88.70 and a 200 day moving average price of $83.48. The company has a market capitalization of $37.35 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24.

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 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 firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts expect 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 declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

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.