GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 14.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,082 shares of the company’s stock after selling 1,061 shares during the period. Griffin Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Diamant Asset Management Inc. increased its stake in GE HealthCare Technologies by 6.3% in the 4th quarter. Diamant Asset Management Inc. now owns 10,907 shares of the company’s stock valued at $853,000 after purchasing an additional 650 shares in the last quarter. Cherry Creek Investment Advisors Inc. grew its holdings in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after purchasing an additional 114 shares during the last quarter. Lebenthal Global Advisors LLC purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $991,000. Foundations Investment Advisors LLC raised its stake in shares of GE HealthCare Technologies by 13.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 3,551 shares of the company’s stock worth $278,000 after buying an additional 424 shares during the last quarter. Finally, CKW Financial Group boosted its position in shares of GE HealthCare Technologies by 13.3% in the 4th quarter. CKW Financial Group now owns 1,158 shares of the company’s stock worth $91,000 after buying an additional 136 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Evercore ISI raised their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Down 1.4 %

GEHC opened at $87.78 on Wednesday. GE HealthCare Technologies Inc. has a 12 month low of $72.50 and a 12 month high of $94.55. The business has a 50-day moving average of $82.55 and a two-hundred day moving average of $84.90. 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 stock has a market capitalization of $40.10 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 2.88 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 firm 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%. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed 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 0.16%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

GE HealthCare Technologies 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.