Ingalls & Snyder LLC Buys New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ingalls & Snyder LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,633 shares of the company’s stock, valued at approximately $247,000.

Several other large investors have also bought and sold shares of the stock. D1 Capital Partners L.P. bought a new position in shares of GE HealthCare Technologies during the third quarter valued at about $268,159,000. Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies in the 3rd quarter valued at about $208,513,000. Massachusetts Financial Services Co. MA bought a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $93,713,000. Marshall Wace LLP purchased a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $63,639,000. Finally, International Assets Investment Management LLC increased its position in shares of GE HealthCare Technologies by 10,227.3% during the third quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after acquiring an additional 615,891 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $82.57 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The stock has a market capitalization of $37.72 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.97 and a beta of 1.07. GE HealthCare Technologies Inc. has a 52-week low of $67.00 and a 52-week high of $94.55. The stock’s 50-day simple moving average is $87.62 and its 200 day simple moving average is $83.67.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

Analyst Ratings Changes

GEHC has been the topic of several research analyst reports. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.46.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Company 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.