First Trust Direct Indexing L.P. Raises Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

First Trust Direct Indexing L.P. grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,904 shares of the company’s stock after buying an additional 1,230 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in GE HealthCare Technologies were worth $900,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in GE HealthCare Technologies during the 4th quarter valued at $29,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $30,000. Sachetta LLC acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $31,000. Rise Advisors LLC grew its position in GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares during the last quarter. Finally, Riverview Trust Co bought a new position in GE HealthCare Technologies in the 1st quarter worth approximately $31,000. 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, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares in the company, valued at $5,296,510. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jan Makela sold 66,955 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the transaction, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GEHC. Bank of America lowered their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Argus increased their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Mizuho decreased their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Evercore ISI upped their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Citigroup lifted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.09.

GE HealthCare Technologies Trading Up 1.2 %

Shares of NASDAQ GEHC opened at $77.24 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The business has a 50-day moving average price of $79.13 and a two-hundred day moving average price of $81.80. The firm has a market capitalization of $35.26 billion, a PE ratio of 22.58, a PEG ratio of 2.78 and a beta of 1.20.

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

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

GE HealthCare Technologies Company 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.