Independent Advisor Alliance Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Independent Advisor Alliance boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 14.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,472 shares of the company’s stock after purchasing an additional 929 shares during the period. Independent Advisor Alliance’s holdings in GE HealthCare Technologies were worth $701,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mesirow Financial Investment Management Inc. boosted its position in GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares during the last quarter. LMR Partners LLP bought a new position in shares of GE HealthCare Technologies in the third quarter worth about $7,387,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of GE HealthCare Technologies in the third quarter worth about $1,396,000. Bank of Montreal Can raised its stake in shares of GE HealthCare Technologies by 27.5% in the second quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock worth $54,964,000 after buying an additional 150,137 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in shares of GE HealthCare Technologies by 2.2% in the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock worth $43,171,000 after buying an additional 10,099 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Evercore ISI raised their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus raised their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. started 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. Finally, Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $83.00 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The stock’s 50 day simple moving average is $88.19 and its two-hundred day simple moving average is $83.61. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (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 business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. 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%. GE HealthCare Technologies’s payout ratio is 3.30%.

Insider Transactions at GE HealthCare Technologies

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 stock was 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 in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

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.