Schear Investment Advisers LLC Cuts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Schear Investment Advisers LLC reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,918 shares of the company’s stock after selling 968 shares during the quarter. Schear Investment Advisers LLC’s holdings in GE HealthCare Technologies were worth $1,166,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. 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 during the period. Geode Capital Management LLC boosted its holdings in shares of GE HealthCare Technologies by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new position in GE HealthCare Technologies during the third quarter valued at about $268,159,000. Charles Schwab Investment Management Inc. increased its holdings in GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in GE HealthCare Technologies in the third quarter worth about $208,513,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $87.03 on Wednesday. The firm’s 50 day simple moving average is $83.52 and its 200 day simple moving average is $85.38. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.55. The firm has a market capitalization of $39.76 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15.

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 given a $0.035 dividend. 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. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analysts Forecast Growth

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

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.