Cynosure Group LLC Acquires 11,890 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cynosure Group LLC grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 57.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,532 shares of the company’s stock after purchasing an additional 11,890 shares during the period. Cynosure Group LLC’s holdings in GE HealthCare Technologies were worth $3,053,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after buying an additional 290,019 shares during the period. Van ECK Associates Corp bought a new stake in GE HealthCare Technologies during the third quarter worth $208,513,000. FMR LLC boosted its holdings in shares of GE HealthCare Technologies by 4.1% in the 3rd quarter. FMR LLC now owns 2,165,826 shares of the company’s stock valued at $203,263,000 after purchasing an additional 84,411 shares in the last quarter. Swiss National Bank increased its stake in shares of GE HealthCare Technologies by 0.5% in the 3rd quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock valued at $120,802,000 after purchasing an additional 6,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after buying an additional 189,956 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction 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 approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GEHC. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. BTIG Research raised 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. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $82.51 on Wednesday. The firm has a market cap of $37.70 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. The business’s 50 day moving average price is $88.27 and its two-hundred day moving average price is $83.62. 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 (NASDAQ:GEHC) last released its quarterly earnings data 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 analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

GE HealthCare Technologies Company 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.