GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Covestor Ltd

Covestor Ltd grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 48.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 920 shares of the company’s stock after acquiring an additional 302 shares during the quarter. Covestor Ltd’s holdings in GE HealthCare Technologies were worth $86,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC boosted its stake in 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 period. Pathway Financial Advisers LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth about $25,000. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies during the third quarter worth about $26,000. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies during the second quarter worth about $26,000. Finally, M&R Capital Management Inc. acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at about $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the topic of several analyst reports. Evercore ISI lifted their target price 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. Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their target price on shares of 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 cut their price target for the stock from $84.00 to $74.00 in a report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $84.18 on Thursday. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 23.13, 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. 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 company’s 50-day moving average is $88.85 and its two-hundred day moving average is $83.48.

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

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

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.