Cypress Capital Group Takes $267,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cypress Capital Group bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,850 shares of the company’s stock, valued at approximately $267,000.

Several other hedge funds have also added to or reduced their stakes in GEHC. Quent Capital LLC increased its position in GE HealthCare Technologies by 18.4% during the 3rd quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after buying an additional 119 shares during the period. Greenleaf Trust increased its position in GE HealthCare Technologies by 1.7% during the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after acquiring an additional 124 shares during the period. EverSource Wealth Advisors LLC raised its stake in GE HealthCare Technologies by 8.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after purchasing an additional 127 shares in the last quarter. Quarry LP grew its position in shares of GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after purchasing an additional 131 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of GE HealthCare Technologies by 4.3% during the third quarter. Harbour Investments Inc. now owns 3,164 shares of the company’s stock worth $297,000 after purchasing an additional 131 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 3.0 %

Shares of NASDAQ GEHC opened at $82.32 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The company has a 50-day moving average price of $88.44 and a 200-day moving average price of $83.57. The stock has a market capitalization of $37.61 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.96 and a beta of 1.24. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion during 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%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.30%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. 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 for the company. Wells Fargo & Company increased their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price 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. Finally, BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on 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 directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

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.