Peapack Gladstone Financial Corp Decreases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Peapack Gladstone Financial Corp decreased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.8% during the third quarter, Holdings Channel.com reports. The fund owned 6,564 shares of the company’s stock after selling 187 shares during the period. Peapack Gladstone Financial Corp’s holdings in GE HealthCare Technologies were worth $616,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Quent Capital LLC grew its position in GE HealthCare Technologies by 18.4% during the 3rd quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after purchasing an additional 119 shares during the last quarter. Greenleaf Trust increased its position in shares of GE HealthCare Technologies by 1.7% in the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after acquiring an additional 124 shares during the period. Westside Investment Management Inc. raised its stake in GE HealthCare Technologies by 32.0% in the 3rd quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock worth $48,000 after acquiring an additional 125 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after acquiring an additional 127 shares during the period. Finally, Quarry LP grew its stake in GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group downgraded 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. Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. Finally, 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 research report on Thursday, October 31st. One equities 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. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $95.46.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Trading Down 0.6 %

Shares of GE HealthCare Technologies stock opened at $81.10 on Monday. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The company has a market cap of $37.05 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The firm has a 50-day simple moving average of $85.84 and a two-hundred day simple moving average of $83.78.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly 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 the consensus estimate of $4.87 billion. During the same quarter in the prior year, the business posted $0.99 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. This is a boost 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 3.85%.

GE HealthCare Technologies 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.