Reliant Investment Management LLC Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Reliant Investment Management LLC trimmed its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,562 shares of the company’s stock after selling 2,245 shares during the period. GE HealthCare Technologies makes up 2.5% of Reliant Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. Reliant Investment Management LLC’s holdings in GE HealthCare Technologies were worth $5,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Bridge Creek Capital Management LLC boosted its stake in GE HealthCare Technologies by 1.8% in the third quarter. Bridge Creek Capital Management LLC now owns 10,637 shares of the company’s stock valued at $998,000 after acquiring an additional 192 shares in the last quarter. Chesley Taft & Associates LLC purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at about $205,000. Bangor Savings Bank lifted its holdings in shares of GE HealthCare Technologies by 22.4% in the 3rd quarter. Bangor Savings Bank now owns 857 shares of the company’s stock valued at $80,000 after purchasing an additional 157 shares during the last quarter. Bath Savings Trust Co acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at about $224,000. Finally, Foresight Capital Management Advisors Inc. purchased a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $274,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The shares were 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 directly owns 17,509 shares in the company, valued at $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Up 0.7 %

GEHC stock opened at $90.69 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.55. The firm has a market capitalization of $41.40 billion, a PE ratio of 26.52, a P/E/G ratio of 3.40 and a beta of 1.18. The company’s 50 day simple moving average is $86.57 and its 200-day simple moving average is $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 for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter last year, the business posted $0.92 earnings per share. GE HealthCare Technologies’s revenue was up .5% compared to the same quarter last year. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of research reports. Evercore ISI boosted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.23.

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.