Park Avenue Securities LLC Invests $227,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Park Avenue Securities LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,494 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $29,000. Turtle Creek Wealth Advisors LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $30,000. Sachetta LLC bought a new stake in shares of GE HealthCare Technologies during the 4th quarter worth about $31,000. Rise Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares during the period. Finally, Valued Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $33,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 2.1 %

Shares of NASDAQ:GEHC opened at $76.26 on Tuesday. The firm has a fifty day moving average of $79.69 and a two-hundred day moving average of $81.85. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The firm has a market capitalization of $34.81 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.80 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GEHC shares. Citigroup upped their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Mizuho cut their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Argus boosted their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the transaction, the chief executive officer now owns 63,348 shares in the company, valued at $5,167,296.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders have sold 90,482 shares of company stock valued at $7,369,137 over the last three months. 0.27% of the stock is currently owned by insiders.

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.