Wright Investors Service Inc. Sells 979 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wright Investors Service Inc. reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,365 shares of the company’s stock after selling 979 shares during the period. Wright Investors Service Inc.’s holdings in GE HealthCare Technologies were worth $889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Acadian Asset Management LLC bought a new position in shares of GE HealthCare Technologies during the second quarter worth about $629,000. Quest Partners LLC bought a new position in GE HealthCare Technologies during the 2nd quarter worth approximately $95,000. Ashton Thomas Private Wealth LLC bought a new position in GE HealthCare Technologies during the 2nd quarter worth approximately $49,000. LPL Financial LLC lifted its position in shares of GE HealthCare Technologies by 17.7% in the 2nd quarter. LPL Financial LLC now owns 397,120 shares of the company’s stock worth $30,944,000 after purchasing an additional 59,860 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of GE HealthCare Technologies by 27.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,716 shares of the company’s stock valued at $1,614,000 after purchasing an additional 4,509 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Up 0.7 %

GE HealthCare Technologies stock opened at $85.36 on Tuesday. 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 firm’s fifty day moving average price is $82.21 and its two-hundred day moving average price is $84.22. The firm has a market capitalization of $39.00 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. On average, equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Finally, Stifel Nicolaus boosted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’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 transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.