Bridgewater Associates LP Has $5.31 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bridgewater Associates LP decreased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 65.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,577 shares of the company’s stock after selling 106,095 shares during the period. Bridgewater Associates LP’s holdings in GE HealthCare Technologies were worth $5,310,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cynosure Group LLC boosted its holdings in shares of GE HealthCare Technologies by 57.6% during the 3rd quarter. Cynosure Group LLC now owns 32,532 shares of the company’s stock valued at $3,053,000 after acquiring an additional 11,890 shares in the last quarter. Townsquare Capital LLC raised its position in GE HealthCare Technologies by 21.5% in the third quarter. Townsquare Capital LLC now owns 7,722 shares of the company’s stock valued at $725,000 after purchasing an additional 1,366 shares during the last quarter. Baldwin Investment Management LLC boosted its stake in shares of GE HealthCare Technologies by 12.9% during the third quarter. Baldwin Investment Management LLC now owns 6,673 shares of the company’s stock valued at $626,000 after purchasing an additional 760 shares in the last quarter. Avestar Capital LLC bought a new stake in shares of GE HealthCare Technologies during the third quarter worth about $237,000. Finally, Brooklyn Investment Group acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $179,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GEHC shares. Stifel Nicolaus boosted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Evercore ISI increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company lifted 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. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. Finally, 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 objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $83.22 on Friday. The firm has a market capitalization of $38.02 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.97 and a beta of 1.24. The firm’s 50-day moving average price is $87.92 and its 200-day moving average price is $83.61. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. 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 posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share 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 analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.85%.

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.