Nwam LLC Takes $227,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nwam LLC purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,423 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after acquiring an additional 290,019 shares in the last quarter. Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies in the third quarter worth about $208,513,000. Swiss National Bank grew its holdings in GE HealthCare Technologies by 0.5% in the third quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock worth $120,802,000 after purchasing an additional 6,500 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of GE HealthCare Technologies by 18.0% during the second 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 in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock valued at $95,952,000 after purchasing an additional 23,448 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $82.66 on Tuesday. GE HealthCare Technologies Inc. has a one year low of $66.39 and a one year high of $94.55. The business has a fifty day moving average of $88.27 and a 200 day moving average of $83.62. 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 firm has a market capitalization of $37.76 billion, a P/E ratio of 22.71, a PEG ratio of 2.95 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GEHC shares. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, Evercore ISI increased their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus price target 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.