Denali Advisors LLC Buys Shares of 5,000 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Denali Advisors LLC acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $455,000.

Several other institutional investors have also made changes to their positions in the business. Rise Advisors LLC raised its position in GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after purchasing an additional 239 shares during the last quarter. Riverview Trust Co bought a new position in shares of GE HealthCare Technologies in the 1st quarter valued at about $31,000. Annapolis Financial Services LLC grew its position in shares of GE HealthCare Technologies by 171.9% during the 1st quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after buying an additional 220 shares during the period. Fortitude Family Office LLC bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GEHC opened at $77.24 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.75 and a beta of 1.20. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The business has a 50 day moving average of $79.30 and a 200-day moving average of $81.83.

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

GE HealthCare Technologies Dividend Announcement

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

Insider Transactions at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jan Makela sold 66,955 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEHC. Mizuho dropped their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Evercore ISI boosted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Bank of America cut their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a 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 issued a buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $94.09.

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.