GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,766 shares of the company’s stock after selling 1,592 shares during the quarter. Wellington Management Group LLP’s holdings in GE HealthCare Technologies were worth $1,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LGT Financial Advisors LLC grew its position in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the period. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $26,000. Finally, Elkhorn Partners Limited Partnership purchased a new stake in GE HealthCare Technologies in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on GEHC shares. Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. UBS Group cut 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. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, Stifel Nicolaus boosted 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. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.46.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $77.09 on Thursday. GE HealthCare Technologies Inc. has a 12 month low of $71.31 and a 12 month high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market capitalization of $35.22 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The business’s fifty day moving average price is $85.14 and its 200 day moving average price is $83.75.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is currently 3.85%.

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.