Platform Technology Partners Sells 324 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Platform Technology Partners trimmed its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,136 shares of the company’s stock after selling 324 shares during the period. Platform Technology Partners’ holdings in GE HealthCare Technologies were worth $482,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies in the first quarter worth $25,000. LGT Financial Advisors LLC boosted its position in shares of GE HealthCare Technologies by 1,673.3% in 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 in the last quarter. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies during the 2nd quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in GE HealthCare Technologies during the 3rd quarter worth $26,000. Finally, Ashton Thomas Securities LLC purchased a new stake in GE HealthCare Technologies in the third quarter valued at about $26,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEHC shares. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. 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. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Stock Down 0.6 %

GEHC opened at $85.39 on Tuesday. The company has a fifty day moving average of $88.92 and a two-hundred day moving average of $83.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a fifty-two week low of $66.39 and a fifty-two week high of $94.55. The stock has a market capitalization of $39.01 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 3.08 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly 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 company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

Insider Buying and Selling 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 completion of the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

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.