Eagle Asset Management Inc. Takes $3.25 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Eagle Asset Management Inc. acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 37,829 shares of the company’s stock, valued at approximately $3,251,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 39.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after purchasing an additional 1,159 shares in the last quarter. LMR Partners LLP acquired a new position in GE HealthCare Technologies in the third quarter valued at $7,387,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $1,396,000. Bank of Montreal Can grew its stake in GE HealthCare Technologies by 27.5% during the second quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock worth $54,964,000 after buying an additional 150,137 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in GE HealthCare Technologies by 2.2% during the 3rd quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock worth $43,171,000 after purchasing an additional 10,099 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 0.3 %

NASDAQ GEHC opened at $82.66 on Tuesday. 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 Inc. has a one year low of $66.39 and a one year high of $94.55. The company has a 50-day simple moving average of $88.27 and a 200-day simple moving average of $83.62. The firm has a market capitalization of $37.76 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.95 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current 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 represents a $0.14 dividend on an annualized basis and a yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Analyst Upgrades and Downgrades

GEHC has been the subject of several recent research reports. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased 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, Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.36.

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.