GAMMA Investing LLC Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

GAMMA Investing LLC grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,016 shares of the company’s stock after buying an additional 355 shares during the period. GAMMA Investing LLC’s holdings in GE HealthCare Technologies were worth $627,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in GE HealthCare Technologies by 19.0% during the 4th quarter. Versant Capital Management Inc now owns 6,125 shares of the company’s stock worth $479,000 after purchasing an additional 980 shares in the last quarter. Cacti Asset Management LLC boosted its stake in shares of GE HealthCare Technologies by 9.4% during the 4th quarter. Cacti Asset Management LLC now owns 2,916 shares of the company’s stock worth $229,000 after purchasing an additional 250 shares during the last quarter. Old Port Advisors purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $256,000. JPMorgan Chase & Co. raised its position in shares of GE HealthCare Technologies by 29.8% in the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company’s stock valued at $209,624,000 after buying an additional 512,778 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of GE HealthCare Technologies by 1.9% during the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after buying an additional 19,010 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GEHC has been the subject of several analyst reports. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Evercore ISI upped their target price 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. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, September 18th. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

Insider Transactions at GE HealthCare Technologies

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 value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $80.52 on Friday. The company has a market cap of $36.79 billion, a P/E ratio of 22.12, a PEG ratio of 2.90 and a beta of 1.07. GE HealthCare Technologies Inc. has a one year low of $71.31 and a one year high of $94.55. The business’s 50-day simple moving average is $82.45 and its 200 day simple moving average is $83.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

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

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

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.