GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Cynosure Group LLC

Cynosure Group LLC increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 57.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,532 shares of the company's stock after acquiring an additional 11,890 shares during the quarter. Cynosure Group LLC's holdings in GE HealthCare Technologies were worth $3,053,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. increased its position in GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock worth $383,000 after purchasing an additional 1,159 shares during the last quarter. LMR Partners LLP acquired a new position in GE HealthCare Technologies in the third quarter valued at $7,387,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in GE HealthCare Technologies during the third quarter valued at about $1,396,000. Bank of Montreal Can increased its stake in 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 acquiring an additional 150,137 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its holdings in shares of GE HealthCare Technologies by 2.2% in the 3rd 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 during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company's 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 completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GEHC. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. UBS Group lowered shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, 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 report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average target price of $94.36.

GE HealthCare Technologies Stock Up 0.9 %

NASDAQ GEHC traded up $0.74 during trading hours on Wednesday, reaching $83.25. 717,460 shares of the company traded hands, compared to its average volume of 3,074,209. The stock has a market capitalization of $38.03 billion, a PE ratio of 22.67, a PEG ratio of 2.96 and a beta of 1.24. The company has a 50 day moving average of $88.27 and a two-hundred day moving average of $83.62. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly 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 business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the business earned $0.99 EPS. The business's quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies's payout ratio is 3.30%.

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.