Kimelman & Baird LLC Lowers Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kimelman & Baird LLC trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 47.8% in the third quarter, Holdings Channel reports. The firm owned 1,820 shares of the company’s stock after selling 1,666 shares during the period. Kimelman & Baird LLC’s holdings in GE HealthCare Technologies were worth $171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. iA Global Asset Management Inc. raised its position in GE HealthCare Technologies by 3.8% in the third quarter. iA Global Asset Management Inc. now owns 46,551 shares of the company’s stock valued at $4,369,000 after purchasing an additional 1,710 shares during the period. EP Wealth Advisors LLC grew its stake in shares of GE HealthCare Technologies by 25.7% in the third quarter. EP Wealth Advisors LLC now owns 8,278 shares of the company’s stock valued at $777,000 after buying an additional 1,691 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of GE HealthCare Technologies by 14.3% in the 3rd quarter. Insigneo Advisory Services LLC now owns 7,453 shares of the company’s stock valued at $699,000 after buying an additional 934 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in GE HealthCare Technologies by 3.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 71,815 shares of the company’s stock worth $6,359,000 after acquiring an additional 2,193 shares in the last quarter. Finally, Wahed Invest LLC boosted its holdings in GE HealthCare Technologies by 12.0% during the 3rd quarter. Wahed Invest LLC now owns 10,716 shares of the company’s stock valued at $1,006,000 after acquiring an additional 1,149 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GEHC. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company upped their target price 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. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Evercore ISI lifted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $81.24 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 52 week low of $67.00 and a 52 week high of $94.55. The firm’s 50 day moving average is $86.80 and its two-hundred day moving average is $83.66. The firm has a market capitalization of $37.12 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.97 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm posted $0.99 EPS. The company’s revenue was up .9% on a year-over-year basis. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced 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 represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.30%.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction 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 transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.