Grimes & Company Inc. Has $386,000 Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Grimes & Company Inc. cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,111 shares of the company’s stock after selling 114 shares during the quarter. Grimes & Company Inc.’s holdings in GE HealthCare Technologies were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after acquiring an additional 4,107,746 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of GE HealthCare Technologies during the 2nd quarter worth $63,639,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of GE HealthCare Technologies by 4,959.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock worth $68,957,000 after buying an additional 743,523 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of GE HealthCare Technologies by 10,227.3% during the 3rd quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock worth $58,367,000 after buying an additional 615,891 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 0.4 %

NASDAQ GEHC opened at $88.90 on Friday. The business’s 50-day moving average price is $88.35 and its two-hundred day moving average price is $83.45. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.55. The firm has a market capitalization of $40.58 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.39 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GEHC. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI boosted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.23.

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.