Orion Portfolio Solutions LLC decreased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,766 shares of the company's stock after selling 16,033 shares during the period. Orion Portfolio Solutions LLC's holdings in GE HealthCare Technologies were worth $4,764,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in GEHC. LGT Financial Advisors LLC raised its stake in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies during the 2nd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Finally, Elkhorn Partners Limited Partnership bought a new stake in GE HealthCare Technologies during the 2nd quarter valued at $31,000. Institutional investors own 82.06% of the company's stock.
Insider Activity
In other 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.
GE HealthCare Technologies Price Performance
Shares of NASDAQ GEHC traded up $0.66 during mid-day trading on Monday, reaching $81.90. The company had a trading volume of 2,372,598 shares, compared to its average volume of 3,052,767. 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 stock has a market cap of $37.42 billion, a PE ratio of 22.50, a P/E/G ratio of 2.91 and a beta of 1.08. The company has a 50-day moving average price of $86.56 and a two-hundred day moving average price of $83.70. GE HealthCare Technologies Inc. has a 1-year low of $69.09 and a 1-year high of $94.55.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $4.86 billion for the quarter, compared to the consensus estimate 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 for the quarter was up .9% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies's payout ratio is currently 3.30%.
Analyst Upgrades and Downgrades
GEHC has been the topic of several recent analyst reports. Evercore ISI lifted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. BTIG Research raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, UBS Group downgraded GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.46.
Check Out Our Latest Stock Analysis on GEHC
About GE HealthCare Technologies
(
Free Report)
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.
Read More
Before you consider GE HealthCare Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GE HealthCare Technologies wasn't on the list.
While GE HealthCare Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.