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

FMR LLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,165,826 shares of the company's stock after purchasing an additional 84,411 shares during the quarter. FMR LLC owned about 0.47% of GE HealthCare Technologies worth $203,263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at $31,000. Finally, Fred Alger Management LLC purchased a new position in GE HealthCare Technologies during the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at GE HealthCare Technologies

In related 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 trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $0.81 during mid-day trading on Tuesday, reaching $82.27. The company had a trading volume of 804,907 shares, compared to its average volume of 3,057,899. GE HealthCare Technologies Inc. has a 52-week low of $67.00 and a 52-week high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $37.59 billion, a P/E ratio of 22.81, a PEG ratio of 2.98 and a beta of 1.08. The stock has a 50 day moving average of $87.78 and a two-hundred day moving average of $83.65.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, 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. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend 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 currently 3.30%.

Analysts Set New Price Targets

GEHC has been the subject of a number of recent analyst reports. UBS Group cut GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a "neutral" rating and a $90.00 price target for the company. Stifel Nicolaus boosted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. Finally, Evercore ISI boosted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned 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 an average target price of $95.46.

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.