River Road Asset Management LLC Lowers Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

River Road Asset Management LLC trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 46.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 253,732 shares of the company’s stock after selling 219,081 shares during the period. River Road Asset Management LLC owned 0.06% of GE HealthCare Technologies worth $23,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GEHC. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies during the first quarter worth approximately $25,000. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies in the 2nd quarter worth about $26,000. Elkhorn Partners Limited Partnership acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at about $31,000. ORG Partners LLC grew its holdings in shares of GE HealthCare Technologies by 2,475.0% during the 2nd quarter. ORG Partners LLC now owns 412 shares of the company’s stock worth $32,000 after purchasing an additional 396 shares during the period. Finally, M&R Capital Management Inc. acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the subject of several research reports. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Stifel Nicolaus boosted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.36.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 0.0 %

GEHC opened at $86.99 on Tuesday. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $39.74 billion, a PE ratio of 23.90, a P/E/G ratio of 3.12 and a beta of 1.24. The firm’s fifty day moving average price is $88.61 and its 200 day moving average price is $83.42.

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, beating analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

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.