Artemis Investment Management LLP Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Artemis Investment Management LLP lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,472 shares of the company’s stock after acquiring an additional 7,937 shares during the period. Artemis Investment Management LLP’s holdings in GE HealthCare Technologies were worth $4,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LGT Financial Advisors LLC raised its stake in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter worth $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 worth $31,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GEHC. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus raised their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’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 value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $84.74 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The stock has a fifty day moving average of $81.98 and a two-hundred day moving average of $84.43. The company has a market capitalization of $38.72 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.80 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. 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.