Grimes & Company Inc. Has $386,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Grimes & Company Inc. lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,111 shares of the company’s stock after selling 114 shares during the quarter. Grimes & Company Inc.’s holdings in GE HealthCare Technologies were worth $386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEHC. Pathway Financial Advisers LLC acquired a new stake in GE HealthCare Technologies in the 1st quarter valued at approximately $25,000. Fred Alger Management LLC acquired a new stake in GE HealthCare Technologies in the 2nd quarter valued at approximately $26,000. BNP Paribas acquired a new stake in GE HealthCare Technologies in the 1st quarter valued at approximately $30,000. Elkhorn Partners Limited Partnership acquired a new stake in GE HealthCare Technologies in the 2nd quarter valued at approximately $31,000. Finally, Annapolis Financial Services LLC raised its position in GE HealthCare Technologies by 171.9% in the 1st quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock valued at $32,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Evercore ISI raised their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.23.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $88.90 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.55. The stock has a 50 day moving average of $88.35 and a 200-day moving average of $83.45. The company has a market capitalization of $40.58 billion, a P/E ratio of 25.99, a P/E/G ratio of 3.39 and a beta of 1.18.

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. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.