Cherry Creek Investment Advisors Inc. Trims Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cherry Creek Investment Advisors Inc. reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.1% in the third quarter, Holdings Channel reports. The firm owned 37,237 shares of the company’s stock after selling 2,007 shares during the period. GE HealthCare Technologies accounts for approximately 1.8% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 14th largest position. Cherry Creek Investment Advisors Inc.’s holdings in GE HealthCare Technologies were worth $3,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares in the last quarter. Capital Research Global Investors raised its holdings 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 valued at $4,908,406,000 after acquiring an additional 2,647,204 shares in the last quarter. Marshall Wace LLP purchased a new stake in GE HealthCare Technologies in the second quarter worth about $63,639,000. Jacobs Levy Equity Management Inc. grew its holdings in GE HealthCare Technologies by 4,959.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock worth $68,957,000 after acquiring an additional 743,523 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in GE HealthCare Technologies by 10,227.3% during the 3rd quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after purchasing an additional 615,891 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target 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. Evercore ISI upped their target price on 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 downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’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 value of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $89.29 on Thursday. The company has a 50 day simple moving average of $88.28 and a two-hundred day simple moving average of $83.41. The stock has a market cap of $40.76 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.39 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.55.

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, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s payout ratio is 3.51%.

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.