Ashton Thomas Securities LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ashton Thomas Securities LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 275 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors have also recently made changes to their positions in GEHC. Russell Investments Group Ltd. grew its stake in GE HealthCare Technologies by 11.3% during the 1st quarter. Russell Investments Group Ltd. now owns 89,220 shares of the company’s stock worth $8,110,000 after purchasing an additional 9,045 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in GE HealthCare Technologies by 171.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 33,780 shares of the company’s stock valued at $3,071,000 after purchasing an additional 21,316 shares in the last quarter. SageView Advisory Group LLC purchased a new position in GE HealthCare Technologies in the first quarter valued at approximately $432,000. HBK Sorce Advisory LLC raised its holdings in GE HealthCare Technologies by 10.4% during the first quarter. HBK Sorce Advisory LLC now owns 6,030 shares of the company’s stock worth $548,000 after purchasing an additional 569 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of GE HealthCare Technologies in the 1st quarter valued at $23,637,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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 stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $82.92 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $88.76 and a 200-day simple moving average of $83.48. The company has a market cap of $37.88 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.24. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company earned $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.29 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GEHC shares. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

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.