GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Perpetual Ltd

Perpetual Ltd cut its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,303,218 shares of the company’s stock after selling 90,818 shares during the quarter. GE HealthCare Technologies makes up 1.2% of Perpetual Ltd’s investment portfolio, making the stock its 23rd biggest holding. Perpetual Ltd’s holdings in GE HealthCare Technologies were worth $101,886,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its holdings in shares of GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after buying an additional 1,159 shares during the last quarter. LMR Partners LLP purchased a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $7,387,000. Principal Financial Group Inc. raised its stake in GE HealthCare Technologies by 1.9% during the 3rd 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 last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $1,396,000. Finally, Everence Capital Management Inc. increased its holdings in shares of GE HealthCare Technologies by 118.2% in the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after purchasing an additional 10,220 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GEHC. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of 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 increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $103.00 in a research note 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 given a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Price Performance

GEHC stock opened at $84.74 on Tuesday. The stock’s 50 day moving average price is $81.97 and its 200 day moving average price is $84.48. The firm has a market cap of $38.72 billion, a P/E ratio of 23.28, a PEG ratio of 2.80 and a beta of 1.11. 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 1 year low of $71.31 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data 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 during 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 company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the 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 owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

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.