Aljian Capital Management LLC Buys Shares of 9,025 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Aljian Capital Management LLC purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,025 shares of the company's stock, valued at approximately $847,000.

Other hedge funds also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. lifted its stake in GE HealthCare Technologies by 39.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock worth $383,000 after acquiring an additional 1,159 shares in the last quarter. Bank of Montreal Can lifted its position in shares of GE HealthCare Technologies by 27.5% during the second quarter. Bank of Montreal Can now owns 696,446 shares of the company's stock worth $54,964,000 after purchasing an additional 150,137 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in shares of GE HealthCare Technologies by 2.2% during the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company's stock worth $43,171,000 after purchasing an additional 10,099 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of GE HealthCare Technologies by 5,075,130.0% in the first quarter. Canada Pension Plan Investment Board now owns 507,523 shares of the company's stock valued at $46,139,000 after purchasing an additional 507,513 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $0.96 during mid-day trading on Monday, reaching $82.72. 2,918,001 shares of the company's stock were exchanged, compared to its average volume of 3,047,524. The business's fifty day simple moving average is $88.65 and its 200-day simple moving average is $83.55. The stock has a market capitalization of $37.79 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week 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.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business posted $0.99 earnings per share. GE HealthCare Technologies's quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, October 18th. GE HealthCare Technologies's payout ratio is currently 3.30%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company's stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEHC. UBS Group lowered GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Redburn Atlantic raised shares of GE HealthCare Technologies to a "strong-buy" rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of 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. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a "neutral" rating and a $90.00 target price for the company. Finally, Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.36.

GE HealthCare Technologies Company 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.