Coldstream Capital Management Inc. Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Coldstream Capital Management Inc. raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,564 shares of the company’s stock after purchasing an additional 965 shares during the period. Coldstream Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $891,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. purchased a new position in shares of GE HealthCare Technologies during the third quarter worth approximately $268,159,000. Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies during the third quarter worth approximately $208,513,000. State Street Corp grew its position in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of GE HealthCare Technologies during the third quarter worth approximately $93,713,000. Finally, Marshall Wace LLP purchased a new position in shares of GE HealthCare Technologies during the second quarter worth approximately $63,639,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus raised 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. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Finally, Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One 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 company’s stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $95.46.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction 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 $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $81.63 on Friday. GE HealthCare Technologies Inc. has a one year low of $71.31 and a one year high of $94.55. The company has a market cap of $37.29 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08. The business has a fifty day moving average of $86.04 and a two-hundred day moving average of $83.70. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts predict 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a $0.035 dividend. The ex-dividend date 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 dividend payout ratio (DPR) 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.