Merit Financial Group LLC Raises Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Merit Financial Group LLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 11.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,262 shares of the company’s stock after purchasing an additional 719 shares during the period. Merit Financial Group LLC’s holdings in GE HealthCare Technologies were worth $561,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after acquiring an additional 5,693,244 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after acquiring an additional 1,221,436 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 1,323.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock valued at $69,682,000 after acquiring an additional 952,182 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at about $55,152,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the purchase, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Bank of America decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Mizuho decreased their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. HSBC began coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Argus boosted their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

GE HealthCare Technologies Stock Up 2.0 %

GEHC opened at $81.43 on Wednesday. The business’s fifty day simple moving average is $88.03 and its 200 day simple moving average is $79.18. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The firm has a market cap of $37.17 billion, a P/E ratio of 23.81, a PEG ratio of 2.86 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. The company had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

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.