GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock Position Lifted by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,173 shares of the company’s stock after buying an additional 180 shares during the quarter. Glenmede Trust Co. NA’s holdings in GE HealthCare Technologies were worth $2,832,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its position in GE HealthCare Technologies by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,404 shares of the company’s stock valued at $673,000 after purchasing an additional 1,074 shares during the last quarter. Swedbank AB acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at about $6,138,000. Atria Investments Inc bought a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $1,300,000. Cetera Investment Advisers increased its holdings in GE HealthCare Technologies by 569.9% in the first quarter. Cetera Investment Advisers now owns 68,474 shares of the company’s stock worth $6,225,000 after buying an additional 58,252 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in GE HealthCare Technologies by 71.7% during the first quarter. Cetera Advisors LLC now owns 26,132 shares of the company’s stock valued at $2,376,000 after acquiring an additional 10,908 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This represents 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 this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent research reports. 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 research report on Monday, September 30th. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. Finally, Wells Fargo & Company increased 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.46.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $83.22 on Friday. The company’s fifty day moving average is $87.78 and its two-hundred day moving average is $83.62. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. 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 firm has a market capitalization of $38.02 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 2.97 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last released 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 business 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%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s payout ratio is currently 3.85%.

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.