Westfield Capital Management Co. LP Sells 207,120 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Westfield Capital Management Co. LP lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 670,739 shares of the company's stock after selling 207,120 shares during the period. Westfield Capital Management Co. LP owned 0.15% of GE HealthCare Technologies worth $62,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GEHC. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies during the first quarter valued at approximately $25,000. LGT Financial Advisors LLC grew its position 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 buying an additional 251 shares during the period. Fred Alger Management LLC purchased a new stake in shares of GE HealthCare Technologies in the 2nd quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of GE HealthCare Technologies in the 3rd quarter worth about $26,000. Finally, Ashton Thomas Securities LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at about $26,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.22 during trading hours on Monday, reaching $82.66. The company had a trading volume of 5,272,406 shares, compared to its average volume of 3,089,268. The firm has a market cap of $37.76 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.95 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The firm's 50 day moving average price is $88.27 and its 200-day moving average price is $83.62. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55.

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

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's dividend payout ratio is 3.30%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Evercore ISI raised their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Tuesday, October 1st. Redburn Atlantic raised GE HealthCare Technologies to a "strong-buy" rating in a report on Thursday, August 1st. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a "neutral" rating and a $90.00 target price on the stock. Finally, UBS Group cut shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and an average price target of $94.36.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction on 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 approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

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.