Sippican Capital Advisors Sells 249 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sippican Capital Advisors reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 16,347 shares of the company’s stock after selling 249 shares during the period. Sippican Capital Advisors’ holdings in GE HealthCare Technologies were worth $1,278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GEHC. Mesirow Financial Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares during the period. Cathy Pareto & Associates Inc. acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $670,000. LMR Partners LLP acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth $7,387,000. Principal Financial Group Inc. boosted its position in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after acquiring an additional 19,010 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at about $1,396,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $87.85 on Thursday. 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 company has a market cap of $40.14 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.88 and a beta of 1.11. GE HealthCare Technologies Inc. has a twelve month low of $72.52 and a twelve month high of $94.55. The business has a fifty day simple moving average of $82.61 and a 200 day simple moving average of $84.92.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate 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 was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS 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. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies 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 sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GEHC. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

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.