Ballentine Partners LLC Trims Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ballentine Partners LLC lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,948 shares of the company’s stock after selling 241 shares during the quarter. Ballentine Partners LLC’s holdings in GE HealthCare Technologies were worth $543,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. 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 period. Greenleaf Trust boosted its stake in shares of GE HealthCare Technologies by 1.7% in the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after buying an additional 124 shares during the last quarter. Westside Investment Management Inc. grew 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 during the period. EverSource Wealth Advisors LLC raised its position in GE HealthCare Technologies by 8.7% during 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 in the last quarter. Finally, Quarry LP lifted its holdings in GE HealthCare Technologies by 28.3% in the second quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $88.16 on Friday. The company has a fifty day simple moving average of $82.18 and a 200-day simple moving average of $84.60. The firm has a market capitalization of $40.28 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 2.88 and a beta of 1.11. 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 Inc. has a 52-week low of $71.31 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the company earned $0.99 EPS. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is 3.85%.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on GEHC

GE HealthCare Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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