Park Avenue Securities LLC Increases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Park Avenue Securities LLC increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,450 shares of the company’s stock after acquiring an additional 392 shares during the quarter. Park Avenue Securities LLC’s holdings in GE HealthCare Technologies were worth $348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. increased its holdings in shares of GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after buying an additional 1,159 shares during the last quarter. LMR Partners LLP purchased a new stake in GE HealthCare Technologies in the 3rd quarter worth approximately $7,387,000. Principal Financial Group Inc. grew its position in shares of GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after buying an additional 19,010 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $1,396,000. Finally, Everence Capital Management Inc. raised its holdings in shares of GE HealthCare Technologies by 118.2% during the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after acquiring an additional 10,220 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Stock Up 0.6 %

Shares of GEHC stock opened at $88.67 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $71.42 and a 12 month high of $94.55. The company has a 50 day simple moving average of $82.32 and a two-hundred day simple moving average of $84.69. The stock has a market cap of $40.51 billion, a P/E ratio of 24.36, a P/E/G ratio of 2.88 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current 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 issued a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s payout ratio is 3.85%.

Analysts Set New Price Targets

GEHC has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.00.

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.