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Greenwood Capital Associates LLC Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)


Greenwood Capital Associates LLC has sold its interest in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) increased 5.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 84,701 shares of the company, after purchasing an additional 4,637 shares during the quarter. Greenwood Capital Associates LLC’s stake in GE HealthCare Technologies was worth $6,549,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its holdings in shares of GE HealthCare Technologies by 18.4% in the third quarter. Janney Montgomery Scott LLC now owns 42,586 shares of the company’s stock worth $2,898,000 after acquiring an additional 6,609 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of GE HealthCare Technologies by 166.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 19,990 shares of the company’s stock valued at $1,360,000 after purchasing an additional 12,500 shares during the period. Rhumbline Advisers increased its position in shares of GE HealthCare Technologies by 10.9% during the third quarter. Rhumbline Advisers now owns 741,604 shares of the company’s stock valued at $50,459,000 after purchasing an additional 73,074 shares in the last quarter. Prudential PLC grew its holdings in shares of GE HealthCare Technologies by 10.0% in the third quarter. Prudential PLC now owns 19,848 shares of the company’s stock worth $1,350,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in GE HealthCare Technologies by 30.4% in the third quarter. Rafferty Asset Management LLC now owns 167,735 shares of the company’s stock valued at $11,413,000 after purchasing an additional 39,147 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s shares.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $76.49 on Monday. The company has a market cap of $34.91 billion, a price-to-earnings ratio of 22.37, a price-to-earnings ratio of 2.75 and a beta of 1.22. The company’s 50-day moving average is $81.37 and its 200-day moving average is $81.13. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting analyst consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the company earned earnings per share of $0.85. The company’s quarterly revenue fell 1.2% compared to the same quarter last year. On average, equity research analysts predict that GE HealthCare Technologies Inc. will post a profit per share of 4.27 for the current financial year.

GE HealthCare Technologies announces dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15. A dividend of $0.03 was paid to known shareholders on Friday, April 19. The ex-dividend date of this dividend was Thursday, April 18. This represents a dividend of $0.12 annually and a dividend yield of 0.16%. GE HealthCare Technologies’ dividend payout ratio (DPR) currently stands at 3.51%.

Analysts set new price targets

Several research agencies have looked into GEHC. Argus raised their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4. The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30. They issued a “neutral” rating and an $87.00 price target for the company. Mizuho lowered their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1. Finally, Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.09.

Check out our latest stock analysis on GEHC

Insider activity

In related news, insider Frank R. Jimenez acquired 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In related news, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, worth approximately $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction dated Wednesday, May 15. The stock sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the sale, the CEO now owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The explanation of this sale can be found here. In the last three months, insiders have sold 90,482 shares of the company’s stock worth $7,369,137. Currently, 0.27% of the shares are owned by corporate insiders.

GE HealthCare Technologies Profile

(Free report)

GE HealthCare Technologies Inc engages in the development, manufacturing 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 in four segments: imaging, ultrasound, patient care solutions and pharmaceutical diagnostics.

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Quarterly Institutional Ownership for GE HealthCare Technologies (NASDAQ:GEHC)



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