JPMorgan Chase & Co. Buys 512,778 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

JPMorgan Chase & Co. increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 29.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,233,603 shares of the company’s stock after acquiring an additional 512,778 shares during the quarter. JPMorgan Chase & Co.’s holdings in GE HealthCare Technologies were worth $209,624,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. LGT Financial Advisors LLC boosted 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 worth $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new position in GE HealthCare Technologies during the second quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Finally, Elkhorn Partners Limited Partnership bought a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the subject of a number of recent research reports. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Stifel Nicolaus raised their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. began 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 objective on the stock. Finally, 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 note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $78.60 on Tuesday. The firm has a fifty day simple moving average of $83.49 and a two-hundred day simple moving average of $83.93. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $35.91 billion, a P/E ratio of 21.59, a PEG ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies Inc. has a 52 week low of $71.31 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts expect 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. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. 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 0.18%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insider Activity

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. Insiders own 0.27% of the company’s stock.

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.