GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 29.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,233,603 shares of the company's stock after buying an additional 512,778 shares during the quarter. JPMorgan Chase & Co. owned about 0.49% of GE HealthCare Technologies worth $209,624,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GEHC. Hantz Financial Services Inc. acquired a new position in GE HealthCare Technologies in the second quarter valued at $116,000. Rothschild Investment LLC acquired a new position in GE HealthCare Technologies in the 2nd quarter valued at about $204,000. Concurrent Investment Advisors LLC lifted its position in GE HealthCare Technologies by 18.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 4,639 shares of the company's stock worth $362,000 after acquiring an additional 731 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of GE HealthCare Technologies by 0.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 162,624 shares of the company's stock valued at $12,672,000 after purchasing an additional 1,511 shares during the last quarter. Finally, Graypoint LLC increased its holdings in shares of GE HealthCare Technologies by 5.9% in the second quarter. Graypoint LLC now owns 2,604 shares of the company's stock valued at $203,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded down $0.42 during trading hours on Tuesday, hitting $78.18. The stock had a trading volume of 1,877,203 shares, compared to its average volume of 3,057,291. The stock has a market capitalization of $35.72 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.96 and a beta of 1.07. 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 1-year low of $71.31 and a 1-year high of $94.55. The stock's fifty day moving average is $83.27 and its two-hundred day moving average is $83.94.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) 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 net margin of 8.56% and a return on equity of 25.19%. The firm's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 earnings per share. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business 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 represents a $0.14 dividend on an annualized basis and a yield of 0.18%. 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 3.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group downgraded GE HealthCare Technologies from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised 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 report on Wednesday, September 18th. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.46.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company's stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company 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.