Hotchkis & Wiley Capital Management LLC Sells 66,480 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Hotchkis & Wiley Capital Management LLC cut its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,593,548 shares of the company's stock after selling 66,480 shares during the quarter. GE HealthCare Technologies accounts for about 1.7% of Hotchkis & Wiley Capital Management LLC's portfolio, making the stock its 14th largest holding. Hotchkis & Wiley Capital Management LLC owned about 1.22% of GE HealthCare Technologies worth $524,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC boosted its stake in GE HealthCare Technologies by 1,673.3% during 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 purchased a new stake in GE HealthCare Technologies during the second quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies during the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. Finally, Elkhorn Partners Limited Partnership purchased a new stake in GE HealthCare Technologies in the second quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GEHC traded down $0.51 during mid-day trading on Tuesday, hitting $82.57. The company's stock had a trading volume of 2,026,619 shares, compared to its average volume of 3,063,322. 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 has a 50-day simple moving average of $87.62 and a 200 day simple moving average of $83.67. The firm has a market capitalization of $37.72 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.97 and a beta of 1.07. GE HealthCare Technologies Inc. has a 1-year low of $67.00 and a 1-year high of $94.55.

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

GE HealthCare Technologies Increases Dividend

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

Analyst Ratings Changes

GEHC has been the subject of a number of recent analyst reports. BTIG Research upgraded shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. UBS Group downgraded shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI upped their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a "neutral" rating and a $90.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $95.46.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

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.