Stonegate Investment Group LLC Sells 17,285 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Stonegate Investment Group LLC decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 962,364 shares of the company’s stock after selling 17,285 shares during the period. GE HealthCare Technologies accounts for 2.0% of Stonegate Investment Group LLC’s holdings, making the stock its 16th biggest position. Stonegate Investment Group LLC’s holdings in GE HealthCare Technologies were worth $75,238,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC boosted its position in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in GE HealthCare Technologies in the third quarter worth about $31,000. Finally, Continuum Advisory LLC raised its position in GE HealthCare Technologies by 101.8% in the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $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 available through the SEC website. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GEHC. Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

GE HealthCare Technologies Stock Up 0.4 %

GEHC stock opened at $88.99 on Tuesday. The company’s 50 day moving average is $82.45 and its 200 day moving average is $84.84. The stock has a market cap of $40.66 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. 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 1-year low of $72.50 and a 1-year 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 analysts’ consensus estimates 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 firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. GE HealthCare Technologies’s payout ratio is presently 3.85%.

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.