Busey Bank Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Busey Bank grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,514 shares of the company’s stock after buying an additional 401 shares during the period. Busey Bank’s holdings in GE HealthCare Technologies were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEHC. Quent Capital LLC boosted its stake in shares of GE HealthCare Technologies by 18.4% in the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after acquiring an additional 119 shares during the period. Greenleaf Trust boosted its stake in shares of GE HealthCare Technologies by 1.7% in the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after acquiring an additional 124 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 8.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after acquiring an additional 127 shares during the period. Quarry LP boosted its stake in shares of GE HealthCare Technologies by 28.3% in the second quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after acquiring an additional 131 shares during the period. Finally, Tempus Wealth Planning LLC boosted its stake in shares of GE HealthCare Technologies by 0.5% in the second quarter. Tempus Wealth Planning LLC now owns 30,892 shares of the company’s stock worth $2,407,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.5 %

Shares of NASDAQ GEHC opened at $88.42 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The business’s 50 day moving average price is $88.42 and its 200-day moving average price is $83.45. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.55. The company has a market cap of $40.36 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.39 and a beta of 1.18.

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

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GEHC shares. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. began 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.23.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

About GE HealthCare Technologies

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.