Strategic Financial Concepts LLC Makes New $1.33 Million Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Strategic Financial Concepts LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 16,963 shares of the company’s stock, valued at approximately $1,326,000.

Several other hedge funds also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. raised its stake in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after purchasing an additional 114 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock valued at $158,000 after purchasing an additional 114 shares during the last quarter. Tandem Capital Management Corp ADV raised its holdings in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after buying an additional 118 shares in the last quarter. Arcus Capital Partners LLC lifted its position in GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after buying an additional 119 shares during the last quarter. Finally, Custom Index Systems LLC boosted its stake in GE HealthCare Technologies by 4.4% in the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company’s stock worth $222,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 0.5 %

NASDAQ GEHC opened at $92.67 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. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.80. The stock has a market cap of $42.34 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The stock has a 50 day simple moving average of $84.45 and a two-hundred day simple moving average of $85.67.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 14th were paid a $0.035 dividend. 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 yield of 0.15%. The ex-dividend date of this dividend was Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.23%.

Analyst Ratings Changes

GEHC has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Citigroup lifted their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.67.

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.