Insider Selling: GE HealthCare Technologies Inc. (NASDAQ:GEHC) CEO Sells 3,577 Shares of Stock

GE HealthCare Technologies Inc. (NASDAQ:GEHC) CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at approximately $2,101,291.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded down $1.39 on Wednesday, reaching $86.78. 4,159,525 shares of the company were exchanged, compared to its average volume of 3,004,006. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The business has a 50-day moving average price of $88.74 and a 200 day moving average price of $83.46. The company has a market cap of $39.65 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 3.12 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion during 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%. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Hedge Funds Weigh In On GE HealthCare Technologies

Several large investors have recently made changes to their positions in the stock. Natixis Advisors LLC increased its position in shares of GE HealthCare Technologies by 36.7% during the third quarter. Natixis Advisors LLC now owns 380,071 shares of the company’s stock worth $35,670,000 after acquiring an additional 102,000 shares during the period. Meridian Investment Counsel Inc. increased its holdings in GE HealthCare Technologies by 5.2% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 5,871 shares of the company’s stock worth $551,000 after purchasing an additional 289 shares during the period. Empowered Funds LLC increased its holdings in GE HealthCare Technologies by 30.7% during the 3rd quarter. Empowered Funds LLC now owns 23,470 shares of the company’s stock worth $2,203,000 after purchasing an additional 5,512 shares during the period. Empirical Finance LLC raised its position in GE HealthCare Technologies by 2.9% in the 3rd quarter. Empirical Finance LLC now owns 13,480 shares of the company’s stock valued at $1,265,000 after purchasing an additional 385 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of GE HealthCare Technologies by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 141,209 shares of the company’s stock valued at $13,252,000 after buying an additional 10,974 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEHC. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

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.