Old Port Advisors Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Old Port Advisors acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,270 shares of the company’s stock, valued at approximately $256,000.

A number of other institutional investors have also made changes to their positions in the stock. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 1,673.3% during 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 during the last quarter. Fred Alger Management LLC bought a new position in GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of GE HealthCare Technologies during the third quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new stake in shares of GE HealthCare Technologies in the second quarter worth $31,000. 82.06% of the stock is owned by institutional investors.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction dated 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 owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GEHC. Evercore ISI upped their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for 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. Wells Fargo & Company upped their price target 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, Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

GE HealthCare Technologies Stock Up 0.3 %

Shares of NASDAQ:GEHC opened at $78.38 on Friday. The company has a market capitalization of $35.81 billion, a PE ratio of 21.53, a P/E/G ratio of 2.96 and a beta of 1.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The company’s fifty day moving average is $82.61 and its 200-day moving average is $83.88. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies’s payout ratio is presently 3.85%.

GE HealthCare Technologies Company Profile

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.