D1 Capital Partners L.P. Takes $268.16 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

D1 Capital Partners L.P. purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,857,314 shares of the company's stock, valued at approximately $268,159,000. GE HealthCare Technologies makes up approximately 5.2% of D1 Capital Partners L.P.'s holdings, making the stock its 5th largest position. D1 Capital Partners L.P. owned 0.63% of GE HealthCare Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quent Capital LLC lifted its position in GE HealthCare Technologies by 18.4% during the 3rd quarter. Quent Capital LLC now owns 766 shares of the company's stock worth $72,000 after buying an additional 119 shares in the last quarter. Greenleaf Trust lifted its position in GE HealthCare Technologies by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company's stock valued at $715,000 after purchasing an additional 124 shares during the period. EverSource Wealth Advisors LLC lifted its position in GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company's stock valued at $135,000 after purchasing an additional 127 shares during the period. Quarry LP lifted its position in GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company's stock valued at $46,000 after purchasing an additional 131 shares during the period. Finally, Harbour Investments Inc. lifted its position in GE HealthCare Technologies by 4.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,164 shares of the company's stock valued at $297,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

GEHC has been the topic of a number of research reports. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, September 30th. BTIG Research upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. UBS Group cut GE HealthCare Technologies from a "neutral" rating to a "sell" rating and lowered their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average target price of $94.36.

GE HealthCare Technologies Stock Up 0.3 %

NASDAQ GEHC traded up $0.22 during trading hours on Friday, reaching $83.22. 1,277,640 shares of the company's stock were exchanged, compared to its average volume of 3,071,343. The company's 50-day moving average is $87.92 and its two-hundred day moving average is $83.61. GE HealthCare Technologies Inc. has a one year low of $66.39 and a one year 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 company has a market capitalization of $38.02 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $4.87 billion. During the same period in the prior year, the business earned $0.99 EPS. GE HealthCare Technologies's revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's dividend payout ratio is 3.85%.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by insiders.

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.