ZWJ Investment Counsel Inc. Cuts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ZWJ Investment Counsel Inc. reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 35.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,015 shares of the company’s stock after selling 2,236 shares during the period. ZWJ Investment Counsel Inc.’s holdings in GE HealthCare Technologies were worth $314,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GEHC. Mercer Global Advisors Inc. ADV raised its position in GE HealthCare Technologies by 15.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 24,326 shares of the company’s stock valued at $1,931,000 after purchasing an additional 3,303 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in GE HealthCare Technologies by 7.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,405 shares of the company’s stock valued at $187,000 after purchasing an additional 171 shares during the period. AE Wealth Management LLC raised its position in GE HealthCare Technologies by 206.3% in the second quarter. AE Wealth Management LLC now owns 17,725 shares of the company’s stock valued at $1,381,000 after purchasing an additional 11,938 shares during the period. Pacer Advisors Inc. raised its position in GE HealthCare Technologies by 31.8% in the second quarter. Pacer Advisors Inc. now owns 63,442 shares of the company’s stock valued at $4,943,000 after purchasing an additional 15,312 shares during the period. Finally, Sei Investments Co. raised its position in GE HealthCare Technologies by 12.2% in the second quarter. Sei Investments Co. now owns 313,444 shares of the company’s stock valued at $24,424,000 after purchasing an additional 34,108 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 3.1 %

NASDAQ:GEHC opened at $87.34 on Wednesday. The company has a market capitalization of $39.90 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. GE HealthCare Technologies Inc. has a one year low of $71.31 and a one year high of $94.55. The stock has a 50-day simple moving average of $82.02 and a 200 day simple moving average of $84.56. 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 (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 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 business 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 firm earned $0.99 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.85%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on GEHC shares. Evercore ISI raised their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

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.