Herbst Group LLC Has $1.81 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Herbst Group LLC raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 25.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,190 shares of the company's stock after acquiring an additional 4,690 shares during the period. Herbst Group LLC's holdings in GE HealthCare Technologies were worth $1,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D1 Capital Partners L.P. acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at $268,159,000. Van ECK Associates Corp bought a new position in GE HealthCare Technologies in the 3rd quarter valued at $208,513,000. State Street Corp lifted its position in 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 buying an additional 1,347,114 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of GE HealthCare Technologies during the third quarter valued at approximately $93,713,000. Finally, Marshall Wace LLP bought a new position in GE HealthCare Technologies in the 2nd quarter worth approximately $63,639,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on GEHC shares. Stifel Nicolaus lifted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a "buy" rating in a research note on Monday, September 30th. UBS Group cut shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Evercore ISI upped their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Finally, Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.00.

GE HealthCare Technologies Stock Down 0.3 %

GEHC traded down $0.26 during trading on Friday, reaching $84.74. The company had a trading volume of 2,855,039 shares, compared to its average volume of 2,724,028. The business's fifty day moving average price is $81.98 and its 200 day moving average price is $84.38. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. GE HealthCare Technologies Inc. has a 12 month low of $71.31 and a 12 month high of $94.55. The company has a market cap of $38.72 billion, a P/E ratio of 23.28, a PEG ratio of 2.80 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS 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 business had revenue of $4.86 billion for the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous year, the firm posted $0.99 EPS. The firm's revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.85%.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the firm's 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 transaction, 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 is accessible through this hyperlink. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Company 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.