Eagle Asset Management Inc. Buys Shares of 37,829 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Eagle Asset Management Inc. purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 37,829 shares of the company’s stock, valued at approximately $3,251,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in GE HealthCare Technologies by 12.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares during the period. Van ECK Associates Corp acquired a new stake in shares of GE HealthCare Technologies in the third quarter valued at $208,513,000. Swiss National Bank boosted its stake in GE HealthCare Technologies by 0.5% during the third quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock valued at $120,802,000 after buying an additional 6,500 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in GE HealthCare Technologies by 18.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after acquiring an additional 189,956 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in GE HealthCare Technologies by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock worth $95,952,000 after acquiring an additional 23,448 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $82.66 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market capitalization of $37.76 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.95 and a beta of 1.24. The company has a 50 day simple moving average of $88.27 and a 200-day simple moving average of $83.62. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55.

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, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.30%.

Insiders Place Their Bets

In other GE HealthCare Technologies 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 of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GEHC shares. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.36.

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.