Beech Hill Advisors Inc. Lowers Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Beech Hill Advisors Inc. lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,343 shares of the company’s stock after selling 578 shares during the period. GE HealthCare Technologies accounts for 1.8% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. Beech Hill Advisors Inc.’s holdings in GE HealthCare Technologies were worth $4,725,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new stake in GE HealthCare Technologies in the first quarter valued at $25,000. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at about $26,000. BNP Paribas acquired a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $30,000. Rise Advisors LLC boosted its holdings in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after buying an additional 239 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in GE HealthCare Technologies during the first quarter worth about $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI lifted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. started 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. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.23.

GE HealthCare Technologies Stock Down 0.5 %

Shares of GE HealthCare Technologies stock opened at $90.22 on Thursday. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.55. The stock has a market capitalization of $41.18 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.39 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $87.58 and its 200-day simple moving average is $83.36.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

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.