GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.4% in the third quarter, HoldingsChannel reports. The fund owned 18,103 shares of the company’s stock after selling 1,453 shares during the period. Pinnacle Associates Ltd.’s holdings in GE HealthCare Technologies were worth $1,699,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in GEHC. Sumitomo Mitsui Trust Holdings Inc. boosted its position in GE HealthCare Technologies by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after acquiring an additional 20,776 shares during the period. Norden Group LLC acquired a new position in GE HealthCare Technologies during the 1st quarter worth $1,291,000. First Trust Direct Indexing L.P. boosted its position in GE HealthCare Technologies by 14.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 9,904 shares of the company’s stock worth $900,000 after acquiring an additional 1,230 shares during the period. Van ECK Associates Corp boosted its position in GE HealthCare Technologies by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 61,873 shares of the company’s stock worth $5,625,000 after acquiring an additional 3,992 shares during the period. Finally, Retirement Systems of Alabama boosted its position in GE HealthCare Technologies by 8.3% during the 1st quarter. Retirement Systems of Alabama now owns 93,469 shares of the company’s stock worth $8,497,000 after acquiring an additional 7,184 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Down 0.5 %

Shares of GE HealthCare Technologies stock opened at $86.95 on Friday. The stock has a 50-day moving average price of $88.61 and a 200 day moving average price of $83.45. The company has a market cap of $39.71 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.26 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the business earned $0.99 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus upped their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.