Perpetual Ltd Decreases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Perpetual Ltd lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,303,218 shares of the company's stock after selling 90,818 shares during the quarter. GE HealthCare Technologies accounts for about 1.2% of Perpetual Ltd's holdings, making the stock its 23rd biggest holding. Perpetual Ltd owned approximately 0.29% of GE HealthCare Technologies worth $101,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mesirow Financial Investment Management Inc. boosted its stake in shares of GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company's stock valued at $383,000 after purchasing an additional 1,159 shares during the period. LMR Partners LLP acquired a new stake in GE HealthCare Technologies in the third quarter valued at approximately $7,387,000. Principal Financial Group Inc. raised its holdings in GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after acquiring an additional 19,010 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in GE HealthCare Technologies in the third quarter valued at approximately $1,396,000. Finally, Everence Capital Management Inc. raised its holdings in GE HealthCare Technologies by 118.2% in the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company's stock valued at $1,475,000 after acquiring an additional 10,220 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies 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 transaction, 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 filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded up $2.60 during trading on Tuesday, reaching $87.34. The company's stock had a trading volume of 2,861,544 shares, compared to its average volume of 3,202,683. The company has a 50-day moving average price of $82.02 and a two-hundred day moving average price of $84.56. The firm has a market cap of $39.90 billion, a PE ratio of 23.99, a P/E/G ratio of 2.80 and a beta of 1.11. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for 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 company's quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. On average, analysts forecast 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 given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.85%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. UBS Group cut shares of GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. 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. Finally, Stifel Nicolaus raised their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average price target of $96.00.

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.