Y Intercept Hong Kong Ltd Takes $5.47 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Y Intercept Hong Kong Ltd acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, HoldingsChannel.com reports. The fund acquired 58,284 shares of the company’s stock, valued at approximately $5,470,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC lifted its position in GE HealthCare Technologies by 2.3% during the second quarter. CWM LLC now owns 10,655 shares of the company’s stock valued at $830,000 after buying an additional 239 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of GE HealthCare Technologies by 5.9% in the 2nd quarter. QRG Capital Management Inc. now owns 6,643 shares of the company’s stock worth $518,000 after purchasing an additional 370 shares during the last quarter. Czech National Bank boosted its holdings in shares of GE HealthCare Technologies by 8.5% during the second quarter. Czech National Bank now owns 80,879 shares of the company’s stock valued at $6,302,000 after acquiring an additional 6,367 shares during the period. Sequoia Financial Advisors LLC grew its holdings in GE HealthCare Technologies by 1.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,276 shares of the company’s stock worth $723,000 after buying an additional 174 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of GE HealthCare Technologies by 23.7% during the 2nd quarter. WASHINGTON TRUST Co now owns 2,293 shares of the company’s stock worth $179,000 after buying an additional 440 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GEHC shares. UBS Group cut 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. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. Finally, Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

GE HealthCare Technologies Price Performance

GEHC stock opened at $81.24 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52-week low of $67.00 and a 52-week high of $94.55. The company has a fifty day moving average price of $86.80 and a 200-day moving average price of $83.68. The company has a market capitalization of $37.12 billion, a P/E ratio of 22.32, a PEG ratio of 2.91 and a beta of 1.08.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the business earned $0.99 EPS. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts expect 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. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 24,298 shares in the company, 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 is accessible through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.