Investors Buy Large Volume of Call Options on GE HealthCare Technologies (NASDAQ:GEHC)

GE HealthCare Technologies Inc. (NASDAQ:GEHC) saw unusually large options trading on Wednesday. Stock investors purchased 9,335 call options on the company. This represents an increase of approximately 96% compared to the average daily volume of 4,757 call options.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Diamant Asset Management Inc. lifted its stake in GE HealthCare Technologies by 4.2% in the 3rd quarter. Diamant Asset Management Inc. now owns 10,257 shares of the company’s stock worth $963,000 after purchasing an additional 410 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of GE HealthCare Technologies by 32.0% during the 3rd quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock valued at $48,000 after buying an additional 125 shares during the period. TCW Group Inc. raised its position in shares of GE HealthCare Technologies by 6.8% during the 3rd quarter. TCW Group Inc. now owns 533,352 shares of the company’s stock valued at $50,055,000 after buying an additional 33,937 shares during the period. Soltis Investment Advisors LLC purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at approximately $206,000. Finally, TD Private Client Wealth LLC raised its position in shares of GE HealthCare Technologies by 213.8% during the 3rd quarter. TD Private Client Wealth LLC now owns 11,478 shares of the company’s stock valued at $1,077,000 after buying an additional 7,820 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 2.9 %

GEHC stock opened at $84.90 on Thursday. 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 has a 12-month low of $66.39 and a 12-month high of $94.55. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.93 and a beta of 1.24. The business’s 50-day moving average is $88.54 and its 200 day moving average is $83.58.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the firm posted $0.99 EPS. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that GE HealthCare Technologies will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEHC. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

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.