1ST Source Bank Sells 346 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

1ST Source Bank reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,445 shares of the company’s stock after selling 346 shares during the period. 1ST Source Bank’s holdings in GE HealthCare Technologies were worth $323,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in GE HealthCare Technologies by 2,475.0% in the second quarter. ORG Partners LLC now owns 412 shares of the company’s stock worth $32,000 after purchasing an additional 396 shares in the last quarter. Assenagon Asset Management S.A. increased its position in GE HealthCare Technologies by 8.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,479 shares of the company’s stock valued at $972,000 after acquiring an additional 953 shares in the last quarter. Blue Trust Inc. raised its stake in shares of GE HealthCare Technologies by 16.9% in the second quarter. Blue Trust Inc. now owns 2,124 shares of the company’s stock worth $166,000 after acquiring an additional 307 shares during the last quarter. Raymond James & Associates lifted its position in shares of GE HealthCare Technologies by 10.4% during the second quarter. Raymond James & Associates now owns 381,702 shares of the company’s stock worth $29,742,000 after purchasing an additional 36,076 shares in the last quarter. Finally, Williams Financial LLC bought a new stake in shares of GE HealthCare Technologies during the second quarter valued at approximately $468,000. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GEHC has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. 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 lifted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.46.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $81.10 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $71.31 and a 12 month high of $94.55. The company’s fifty day simple moving average is $85.84 and its 200-day simple moving average is $83.71. The firm has a market cap of $37.05 billion, a PE ratio of 22.28, a P/E/G ratio of 2.96 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.30%.

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 transaction of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $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 available through this hyperlink. Insiders own 0.27% of the company’s stock.

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.