PDT Partners LLC Has $4.07 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

PDT Partners LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,364 shares of the company’s stock after selling 14,501 shares during the quarter. PDT Partners LLC’s holdings in GE HealthCare Technologies were worth $4,070,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies in the 1st quarter valued at about $25,000. LGT Financial Advisors LLC lifted its stake in 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. Fred Alger Management LLC bought a new position in GE HealthCare Technologies during the second quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in GE HealthCare Technologies during the third quarter worth approximately $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies in the third quarter valued at approximately $26,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Up 0.3 %

Shares of NASDAQ:GEHC opened at $83.22 on Friday. The business’s 50 day simple moving average is $87.92 and its 200 day simple moving average is $83.61. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. 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 company has a market capitalization of $38.02 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.97 and a beta of 1.24.

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 the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the firm posted $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued 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 an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GEHC. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. UBS Group cut 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 note on Thursday, September 26th. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $94.36.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction 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 $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.