GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Lowered by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 33.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,123 shares of the company’s stock after selling 77,944 shares during the period. Galvin Gaustad & Stein LLC’s holdings in GE HealthCare Technologies were worth $12,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LGT Financial Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Darwin Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at $31,000. Finally, Continuum Advisory LLC lifted its stake in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale 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.

Analysts Set New Price Targets

A number of research analysts have weighed in on GEHC shares. Evercore ISI boosted 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 lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted 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. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $87.26 on Thursday. The stock has a market cap of $39.86 billion, a P/E ratio of 23.97, a PEG ratio of 2.88 and a beta of 1.11. The company’s 50-day simple moving average is $82.08 and its 200 day simple moving average is $84.58. GE HealthCare Technologies Inc. has a twelve month low of $71.31 and a twelve month high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its 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. 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, research analysts forecast 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 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. This represents a $0.14 annualized dividend and a yield of 0.16%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio 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.