FORA Capital LLC Has $8.67 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

FORA Capital LLC grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,369 shares of the company's stock after buying an additional 31,319 shares during the period. GE HealthCare Technologies accounts for about 1.0% of FORA Capital LLC's investment portfolio, making the stock its 17th biggest holding. FORA Capital LLC's holdings in GE HealthCare Technologies were worth $8,669,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GEHC. Pathway Financial Advisers LLC acquired a new position in GE HealthCare Technologies during the 1st quarter valued at about $25,000. LGT Financial Advisors LLC raised its position in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Fred Alger Management LLC acquired a new stake in GE HealthCare Technologies in the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $26,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Stock Up 0.6 %

Shares of GEHC traded up $0.49 during trading hours on Wednesday, hitting $83.00. 1,807,975 shares of the company were exchanged, compared to its average volume of 3,079,142. The firm's 50 day moving average is $88.19 and its 200-day moving average is $83.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55. The company has a market cap of $37.92 billion, a PE ratio of 22.82, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate 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%. The company's revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a $0.035 dividend. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies's payout ratio is currently 3.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Redburn Atlantic raised GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. 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. UBS Group downgraded GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a "neutral" rating and a $90.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.36.

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.