Bank of Montreal Can Purchases 11,507 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bank of Montreal Can lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 707,953 shares of the company's stock after purchasing an additional 11,507 shares during the period. Bank of Montreal Can owned about 0.15% of GE HealthCare Technologies worth $65,125,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. increased its position in shares of GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock valued at $383,000 after acquiring an additional 1,159 shares during the period. LMR Partners LLP purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at about $7,387,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in GE HealthCare Technologies during the 3rd quarter valued at approximately $1,396,000. Douglas Lane & Associates LLC lifted its holdings in 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 buying an additional 10,099 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of GE HealthCare Technologies by 1.9% during the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after buying an additional 19,010 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $0.49 during trading on Thursday, reaching $83.00. 1,807,975 shares of the company traded hands, compared to its average volume of 3,079,142. The firm has a 50 day simple moving average of $88.07 and a 200-day simple moving average of $83.61. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. The stock has a market capitalization of $37.92 billion, a PE ratio of 22.80, a P/E/G ratio of 2.96 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analysts' expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company 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 $0.035 dividend. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. GE HealthCare Technologies's dividend payout ratio is currently 3.30%.

Insiders Place Their Bets

In related news, CEO Roland Rott sold 3,577 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly 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 position. The sale 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.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BTIG Research raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price target 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. Redburn Atlantic raised shares of GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a "neutral" rating and a $90.00 target price for the company. Finally, Evercore ISI upped their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average price target of $94.36.

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.