GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Otter Creek Advisors LLC

Otter Creek Advisors LLC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 178.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,996 shares of the company's stock after acquiring an additional 34,570 shares during the quarter. GE HealthCare Technologies comprises about 3.3% of Otter Creek Advisors LLC's portfolio, making the stock its 14th biggest position. Otter Creek Advisors LLC's holdings in GE HealthCare Technologies were worth $5,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. purchased a new stake in GE HealthCare Technologies during the third quarter valued at approximately $3,251,000. Activest Wealth Management acquired a new position in shares of GE HealthCare Technologies during the third quarter worth $50,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of GE HealthCare Technologies by 12.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company's stock valued at $254,422,000 after purchasing an additional 290,019 shares during the last quarter. Smithfield Trust Co boosted its position in shares of GE HealthCare Technologies by 46.4% in the 3rd quarter. Smithfield Trust Co now owns 7,230 shares of the company's stock worth $679,000 after purchasing an additional 2,290 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in GE HealthCare Technologies during the 3rd quarter worth $93,713,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded down $0.24 during trading hours on Friday, hitting $81.76. The stock had a trading volume of 4,047,507 shares, compared to its average volume of 3,071,336. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market capitalization of $37.35 billion, a PE ratio of 22.62, a PEG ratio of 2.96 and a beta of 1.24. The stock's 50 day moving average is $88.44 and its 200 day moving average is $83.57. GE HealthCare Technologies Inc. has a twelve month low of $66.39 and a twelve month 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, topping analysts' consensus estimates 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 firm had revenue of $4.86 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same quarter in the prior year, the business earned $0.99 EPS. GE HealthCare Technologies's quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.30%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of research analyst reports. Evercore ISI increased their price target 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. UBS Group cut shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a "neutral" rating and a $90.00 target price on the stock. Stifel Nicolaus raised their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, Redburn Atlantic raised shares of GE HealthCare Technologies to a "strong-buy" rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $94.36.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the business'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 transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company's stock.

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.