HM Payson & Co. Decreases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HM Payson & Co. cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,666 shares of the company’s stock after selling 7,301 shares during the quarter. HM Payson & Co.’s holdings in GE HealthCare Technologies were worth $3,253,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in GE HealthCare Technologies during the first quarter worth $25,000. BNP Paribas acquired a new position in GE HealthCare Technologies during the first quarter worth $30,000. Fred Alger Management LLC acquired a new position in GE HealthCare Technologies during the second quarter worth $26,000. M&R Capital Management Inc. acquired a new position in GE HealthCare Technologies during the third quarter worth $33,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in GE HealthCare Technologies during the second quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Down 0.3 %

GEHC stock traded down $0.22 during midday trading on Thursday, reaching $86.98. 180,026 shares of the company’s stock traded hands, compared to its average volume of 2,995,962. The business has a 50-day moving average price of $88.51 and a two-hundred day moving average price of $83.42. GE HealthCare Technologies Inc. has a fifty-two week low of $65.77 and a fifty-two week high of $94.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a market capitalization of $39.72 billion, a P/E ratio of 23.90, a PEG ratio of 3.34 and a beta of 1.18.

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 25.26% and a net margin of 8.10%. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GEHC shares. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Evercore ISI boosted their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued 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 issued a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.