Sippican Capital Advisors Sells 249 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sippican Capital Advisors lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,347 shares of the company’s stock after selling 249 shares during the quarter. Sippican Capital Advisors’ holdings in GE HealthCare Technologies were worth $1,278,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. D1 Capital Partners L.P. acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $268,159,000. Van ECK Associates Corp acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth $208,513,000. State Street Corp lifted its holdings in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of GE HealthCare Technologies in the third quarter worth about $93,713,000. Finally, Geode Capital Management LLC raised its position in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after purchasing an additional 733,819 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 0.1 %

NASDAQ:GEHC opened at $87.85 on Thursday. GE HealthCare Technologies Inc. has a twelve month low of $72.52 and a twelve month high of $94.55. The firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average price is $82.61 and its two-hundred day moving average price is $84.92.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 earnings per share. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.16%. GE HealthCare Technologies’s payout ratio is currently 3.85%.

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEHC. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company upped their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

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.