Sound Income Strategies LLC Grows Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sound Income Strategies LLC increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 98.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 582 shares of the company’s stock after purchasing an additional 288 shares during the quarter. Sound Income Strategies LLC’s holdings in GE HealthCare Technologies were worth $46,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of GE HealthCare Technologies by 7.8% in 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 during the period. Geode Capital Management LLC boosted its position in GE HealthCare Technologies by 7.2% in 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 last quarter. D1 Capital Partners L.P. bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at about $268,159,000. Charles Schwab Investment Management Inc. lifted its stake in shares of GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares during the period. Finally, Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies in the third quarter worth approximately $208,513,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC opened at $88.67 on Friday. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.88 and a beta of 1.11. GE HealthCare Technologies Inc. has a fifty-two week low of $71.42 and a fifty-two week high of $94.55. 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 company has a fifty day moving average of $82.32 and a 200 day moving average of $84.74.

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

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 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 completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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