Tandem Capital Management Corp ADV Sells 330 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Tandem Capital Management Corp ADV trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,092 shares of the company’s stock after selling 330 shares during the quarter. GE HealthCare Technologies comprises about 1.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 24th biggest holding. Tandem Capital Management Corp ADV’s holdings in GE HealthCare Technologies were worth $2,636,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors grew its position in shares of GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares during the period. Vanguard Group Inc. grew its position in shares of GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of GE HealthCare Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after purchasing an additional 189,956 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in GE HealthCare Technologies by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after acquiring an additional 20,776 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its position in GE HealthCare Technologies by 1.0% during the 3rd quarter. Stonegate Investment Group LLC now owns 979,649 shares of the company’s stock worth $91,940,000 after acquiring an additional 9,572 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GEHC shares. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Evercore ISI increased their price target 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. Finally, Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $94.23.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $87.20 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The stock’s fifty day moving average price is $88.51 and its two-hundred day moving average price is $83.42. GE HealthCare Technologies Inc. has a one year low of $65.77 and a one year high of $94.55. The firm has a market cap of $39.80 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 3.34 and a beta of 1.18.

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

GE HealthCare Technologies Dividend Announcement

The business also recently announced 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. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

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.