Alhambra Investment Management LLC Sells 680 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Alhambra Investment Management LLC reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,783 shares of the company’s stock after selling 680 shares during the period. Alhambra Investment Management LLC’s holdings in GE HealthCare Technologies were worth $530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEHC. State Street Corp boosted its position in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after buying an additional 733,819 shares in the last quarter. D1 Capital Partners L.P. acquired a new position in GE HealthCare Technologies during the third quarter worth $268,159,000. Charles Schwab Investment Management Inc. lifted its stake in GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after acquiring an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at about $208,513,000. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Trading Down 0.3 %

Shares of NASDAQ:GEHC opened at $84.74 on Friday. The company has a market capitalization of $38.72 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.80 and a beta of 1.11. 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 business’s 50 day simple moving average is $81.98 and its 200 day simple moving average is $84.33. GE HealthCare Technologies Inc. has a 1 year low of $71.31 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business earned $0.99 earnings per share. GE HealthCare Technologies’s revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Wall Street Analysts Forecast Growth

GEHC has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Stifel Nicolaus upped their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. 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 assigned a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

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.