Avity Investment Management Inc. Grows Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avity Investment Management Inc. boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 90.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 354,842 shares of the company’s stock after acquiring an additional 168,345 shares during the quarter. GE HealthCare Technologies accounts for 2.6% of Avity Investment Management Inc.’s portfolio, making the stock its 23rd biggest holding. Avity Investment Management Inc. owned 0.08% of GE HealthCare Technologies worth $33,302,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies in the 1st quarter worth $25,000. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies in the second quarter worth about $26,000. BNP Paribas bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at approximately $30,000. Rise Advisors LLC raised its stake in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares during the period. Finally, Riverview Trust Co bought a new stake in GE HealthCare Technologies in the first quarter worth about $31,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded up $0.78 on Friday, reaching $91.03. 1,372,060 shares of the company were exchanged, compared to its average volume of 3,050,719. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55. The company has a market cap of $41.55 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.39 and a beta of 1.18. The business has a 50-day moving average price of $86.98 and a 200 day moving average price of $83.39.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 8.10% and a return on equity of 25.26%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Insider Activity

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on GEHC shares. 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. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $94.23.

GE HealthCare Technologies 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.