Mutual Advisors LLC Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mutual Advisors LLC decreased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,984 shares of the company’s stock after selling 353 shares during the quarter. Mutual Advisors LLC’s holdings in GE HealthCare Technologies were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GEHC. LGT Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new stake in GE HealthCare Technologies in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at $31,000. Finally, Continuum Advisory LLC lifted its holdings in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 1.4 %

GEHC stock opened at $87.78 on Wednesday. GE HealthCare Technologies Inc. has a 52-week low of $72.50 and a 52-week 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 $40.10 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.88 and a beta of 1.11. The company’s 50 day simple moving average is $82.55 and its 200-day simple moving average is $84.90.

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 company had revenue of $4.86 billion during 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 quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. GE HealthCare Technologies’s payout ratio is currently 3.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.00.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of the business’s 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by insiders.

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.