Salem Investment Counselors Inc. Trims Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Salem Investment Counselors Inc. lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,208 shares of the company's stock after selling 14,117 shares during the period. Salem Investment Counselors Inc.'s holdings in GE HealthCare Technologies were worth $8,538,000 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 GEHC. State Street Corp increased its stake in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company's stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 7.2% during the 3rd 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 last quarter. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $268,159,000. Charles Schwab Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 12.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company's stock worth $254,422,000 after purchasing an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $208,513,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $0.60 during mid-day trading on Monday, hitting $85.36. 2,903,827 shares of the company traded hands, compared to its average volume of 3,375,477. 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 stock has a 50-day moving average price of $82.21 and a two-hundred day moving average price of $84.22. GE HealthCare Technologies Inc. has a 1 year low of $71.31 and a 1 year high of $94.55. The stock has a market cap of $39.00 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.86 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The firm's quarterly revenue was up .9% on a year-over-year basis. Equities analysts anticipate 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 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 is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies's dividend payout ratio is currently 3.85%.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 directly owns 24,298 shares of the company's stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on GEHC shares. UBS Group downgraded shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. 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. Evercore ISI lifted 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. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research report 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $96.00.

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.