AdvisorNet Financial Inc Has $1.69 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

AdvisorNet Financial Inc cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,562 shares of the company’s stock after selling 3,426 shares during the quarter. AdvisorNet Financial Inc’s holdings in GE HealthCare Technologies were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the period. Fred Alger Management LLC acquired a new position in GE HealthCare Technologies in the second quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in GE HealthCare Technologies in the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies during the third quarter worth about $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new stake in GE HealthCare Technologies during the second quarter valued at approximately $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Wells Fargo & Company lifted 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. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Trading Down 1.4 %

Shares of NASDAQ GEHC opened at $84.13 on Wednesday. GE HealthCare Technologies Inc. has a 1-year low of $71.31 and a 1-year high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $82.13 and a two-hundred day moving average of $84.27. The company has a market cap of $38.44 billion, a PE ratio of 23.11, a P/E/G ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. The firm 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 business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed 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. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

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.