Bangor Savings Bank Increases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bangor Savings Bank lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 22.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 857 shares of the company’s stock after acquiring an additional 157 shares during the period. Bangor Savings Bank’s holdings in GE HealthCare Technologies were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GEHC. Pathway Financial Advisers LLC purchased a new position in shares of GE HealthCare Technologies during the first quarter worth approximately $25,000. Fred Alger Management LLC acquired a new stake in shares of GE HealthCare Technologies during the second quarter worth $26,000. BNP Paribas acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth $30,000. Rise Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GEHC shares. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, UBS Group downgraded 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.23.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Trading Up 0.7 %

NASDAQ:GEHC opened at $90.69 on Wednesday. The company has a market capitalization of $41.40 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 3.40 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55. The stock has a fifty day simple moving average of $86.57 and a 200-day simple moving average of $83.27.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

About GE HealthCare Technologies

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.