DLK Investment Management LLC Purchases New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

DLK Investment Management LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,513 shares of the company’s stock, valued at approximately $236,000.

A number of other institutional investors have also added to or reduced their stakes in GEHC. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after acquiring an additional 4,107,746 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of GE HealthCare Technologies by 41.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock valued at $145,021,000 after acquiring an additional 550,612 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after purchasing an additional 189,956 shares during the last quarter. Finally, Perpetual Ltd bought a new position in GE HealthCare Technologies in the 1st quarter worth $96,135,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded up $0.92 during midday trading on Friday, hitting $91.17. 285,038 shares of the company traded hands, compared to its average volume of 3,045,201. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The stock has a market cap of $41.63 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 3.39 and a beta of 1.18. The firm’s fifty day moving average price is $86.83 and its 200-day moving average price is $83.37.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.49%.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Stifel Nicolaus boosted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

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.