Everence Capital Management Inc. Has $1.48 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Everence Capital Management Inc. increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 118.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,870 shares of the company's stock after buying an additional 10,220 shares during the quarter. Everence Capital Management Inc.'s holdings in GE HealthCare Technologies were worth $1,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company's stock valued at $1,747,101,000 after buying an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC lifted its stake in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company's stock worth $1,026,898,000 after purchasing an additional 733,819 shares during the period. D1 Capital Partners L.P. acquired a new stake in GE HealthCare Technologies during the third quarter valued at approximately $268,159,000. Charles Schwab Investment Management Inc. grew its stake in shares of GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company's stock valued at $254,422,000 after purchasing an additional 290,019 shares during the period. Finally, Van ECK Associates Corp acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $208,513,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the business's stock in a transaction dated 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 approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on GEHC. BTIG Research upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. 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. UBS Group downgraded shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lifted 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 note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.46.

GE HealthCare Technologies Trading Up 2.7 %

Shares of GEHC stock traded up $2.14 on Friday, reaching $80.52. 2,712,608 shares of the stock were exchanged, compared to its average volume of 2,999,023. 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 Inc. has a one year low of $71.31 and a one year high of $94.55. The stock has a market cap of $36.79 billion, a PE ratio of 22.12, a P/E/G ratio of 2.90 and a beta of 1.07. The stock has a 50 day moving average price of $82.45 and a 200 day moving average price of $83.94.

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

GE HealthCare Technologies Increases Dividend

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

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.