Trian Fund Management L.P. Sells 1,338,804 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Trian Fund Management L.P. decreased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 99.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,029 shares of the company's stock after selling 1,338,804 shares during the quarter. GE HealthCare Technologies makes up about 0.0% of Trian Fund Management L.P.'s portfolio, making the stock its 9th biggest holding. Trian Fund Management L.P.'s holdings in GE HealthCare Technologies were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEHC. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies in the first quarter valued at $25,000. LGT Financial Advisors LLC increased its stake in GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after buying an additional 251 shares during the period. Fred Alger Management LLC acquired a new stake in GE HealthCare Technologies in the second quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. Finally, Ashton Thomas Securities LLC purchased a new stake in GE HealthCare Technologies during the third quarter worth about $26,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 0.6 %

GEHC stock traded up $0.49 during trading hours on Wednesday, hitting $83.00. The company's stock had a trading volume of 1,807,975 shares, compared to its average volume of 3,079,142. The company has a market capitalization of $37.92 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a 50 day moving average price of $88.19 and a two-hundred day moving average price of $83.61. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the company posted $0.99 EPS. The company's revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a $0.035 dividend. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies's payout ratio is presently 3.30%.

Insider Buying and Selling

In other 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 value of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company's stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. assumed 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 for the company. UBS Group cut GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Wells Fargo & Company raised 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. Finally, Redburn Atlantic raised shares of GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.36.

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.