HighPoint Advisor Group LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HighPoint Advisor Group LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,010 shares of the company’s stock, valued at approximately $1,006,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after acquiring an additional 399,961 shares during the period. South Dakota Investment Council boosted its position in shares of GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after buying an additional 71,857 shares during the last quarter. US Bancorp DE boosted its position in shares of GE HealthCare Technologies by 83.4% during the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after buying an additional 66,638 shares during the last quarter. Cerity Partners LLC boosted its position in shares of GE HealthCare Technologies by 27.2% during the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after buying an additional 9,809 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of GE HealthCare Technologies by 3.9% during the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after buying an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Argus lifted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup lifted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Mizuho cut their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI lifted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Bank of America dropped their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.09.

Get Our Latest Stock Report on GEHC

Insider Buying and Selling at GE HealthCare Technologies

In related news, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. In the last three months, insiders have sold 90,482 shares of company stock worth $7,369,137. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Up 1.0 %

Shares of NASDAQ:GEHC traded up $0.75 during trading on Tuesday, hitting $78.30. The stock had a trading volume of 173,336 shares, compared to its average volume of 3,142,014. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The company has a market capitalization of $35.74 billion, a PE ratio of 22.68, a PEG ratio of 2.75 and a beta of 1.22. The firm’s fifty day moving average is $81.37 and its 200 day moving average is $81.23. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the business posted $0.85 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

About GE HealthCare Technologies

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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