LMR Partners LLP Invests $7.39 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

LMR Partners LLP purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,711 shares of the company’s stock, valued at approximately $7,387,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Osaic Holdings Inc. boosted its position in shares of GE HealthCare Technologies by 29.5% in the 1st quarter. Osaic Holdings Inc. now owns 168,414 shares of the company’s stock worth $15,282,000 after purchasing an additional 38,352 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of GE HealthCare Technologies by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 17,803 shares of the company’s stock worth $1,618,000 after buying an additional 248 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of GE HealthCare Technologies by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,090 shares of the company’s stock valued at $1,463,000 after acquiring an additional 2,577 shares during the last quarter. UniSuper Management Pty Ltd raised its position in shares of GE HealthCare Technologies by 282.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 15,193 shares of the company’s stock valued at $1,381,000 after acquiring an additional 11,225 shares during the period. Finally, Lake Street Advisors Group LLC bought a new position in GE HealthCare Technologies during the 1st quarter worth approximately $211,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

GEHC opened at $82.72 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock has a market cap of $37.79 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.93 and a beta of 1.24. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The business has a 50 day moving average of $88.65 and a 200-day moving average of $83.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm 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%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI boosted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.36.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

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.