Avestar Capital LLC Invests $237,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avestar Capital LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,523 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its position in shares of GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies in the third quarter valued at about $26,000. Pathway Financial Advisers LLC bought a new stake in GE HealthCare Technologies in the first quarter valued at about $25,000. Capital Performance Advisors LLP bought a new stake in GE HealthCare Technologies in the third quarter valued at about $26,000. Finally, Darwin Wealth Management LLC bought a new stake in GE HealthCare Technologies in the third quarter valued at about $31,000. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GEHC. Stifel Nicolaus upped their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $83.00 on Thursday. The firm has a market cap of $37.92 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 0.98 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. The business’s 50 day moving average is $88.19 and its 200-day moving average is $83.61.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its 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. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

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

About GE HealthCare Technologies

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.