Principal Financial Group Inc. Buys 19,010 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Principal Financial Group Inc. raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,009,910 shares of the company’s stock after purchasing an additional 19,010 shares during the period. Principal Financial Group Inc.’s holdings in GE HealthCare Technologies were worth $94,780,000 as of its most recent filing with the Securities and Exchange Commission.

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

GE HealthCare Technologies Trading Up 1.9 %

NASDAQ GEHC opened at $78.91 on Friday. The company has a market cap of $36.05 billion, a PE ratio of 21.68, a PEG ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies Inc. has a 12 month low of $71.31 and a 12 month high of $94.55. The stock has a 50 day moving average of $84.64 and a 200-day moving average of $83.72. 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 (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. The business 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 quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. 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. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies’s payout ratio is presently 3.85%.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEHC. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Wells Fargo & Company boosted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Evercore ISI increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $95.46.

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.