Intech Investment Management LLC Sells 47,749 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Intech Investment Management LLC lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 70.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 20,405 shares of the company’s stock after selling 47,749 shares during the quarter. Intech Investment Management LLC’s holdings in GE HealthCare Technologies were worth $1,915,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $31,000. Grandfield & Dodd LLC boosted its position in shares of GE HealthCare Technologies by 0.7% during the third quarter. Grandfield & Dodd LLC now owns 322,889 shares of the company’s stock worth $30,303,000 after acquiring an additional 2,101 shares during the last quarter. First Horizon Advisors Inc. grew its stake in GE HealthCare Technologies by 8.4% during the third quarter. First Horizon Advisors Inc. now owns 5,950 shares of the company’s stock valued at $558,000 after acquiring an additional 459 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in GE HealthCare Technologies by 28.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 97,430 shares of the company’s stock valued at $9,144,000 after acquiring an additional 21,413 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in GE HealthCare Technologies by 56.4% in the 3rd quarter. Jennison Associates LLC now owns 761,618 shares of the company’s stock worth $71,478,000 after purchasing an additional 274,657 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

In related 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 directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $82.44 on Monday. The firm has a market cap of $37.66 billion, a PE ratio of 22.65, a P/E/G ratio of 2.94 and a beta of 1.24. The business has a 50-day moving average price of $88.35 and a 200 day moving average price of $83.62. 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 twelve month low of $66.39 and a twelve month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping 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 analyst estimates of $4.87 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is currently 3.85%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies 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.