Financial Counselors Inc. Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Financial Counselors Inc. trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,402 shares of the company’s stock after selling 475 shares during the period. Financial Counselors Inc.’s holdings in GE HealthCare Technologies were worth $976,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. raised its stake in GE HealthCare Technologies by 39.6% during the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after buying an additional 1,159 shares during the last quarter. LMR Partners LLP bought a new position in shares of GE HealthCare Technologies during the third quarter valued at $7,387,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth about $1,396,000. Bank of Montreal Can increased its stake in GE HealthCare Technologies by 27.5% during the 2nd quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock valued at $54,964,000 after purchasing an additional 150,137 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of GE HealthCare Technologies by 2.2% during the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock valued at $43,171,000 after acquiring an additional 10,099 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GEHC. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus lifted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. 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 assigned a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Stock Up 0.3 %

Shares of GEHC opened at $83.22 on Friday. 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 Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The business’s 50 day moving average is $87.92 and its 200 day moving average is $83.61. The company has a market capitalization of $38.02 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. Research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s payout ratio is 3.85%.

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 stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.