Valley National Advisers Inc. Sells 413 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Valley National Advisers Inc. reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 34.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 793 shares of the company’s stock after selling 413 shares during the quarter. Valley National Advisers Inc.’s holdings in GE HealthCare Technologies were worth $72,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GEHC. Fortitude Family Office LLC bought a new position in GE HealthCare Technologies in the fourth quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC bought a new position in GE HealthCare Technologies in the fourth quarter valued at about $30,000. Sachetta LLC bought a new position in GE HealthCare Technologies in the fourth quarter valued at about $31,000. Rise Advisors LLC raised its position in GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after purchasing an additional 239 shares during the last quarter. Finally, Riverview Trust Co bought a new position in GE HealthCare Technologies in the first quarter valued at about $31,000. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GE HealthCare Technologies

In other news, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now directly owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 90,482 shares of company stock valued at $7,369,137. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 1.2 %

NASDAQ GEHC traded up $0.91 during trading hours on Wednesday, hitting $77.24. 1,343,190 shares of the company’s stock were exchanged, compared to its average volume of 3,172,688. The stock has a 50-day simple moving average of $79.30 and a 200 day simple moving average of $81.83. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The firm has a market cap of $35.26 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.80 and a beta of 1.20. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a $0.03 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup raised their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI raised their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Bank of America lowered their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective for the company. Finally, Mizuho lowered their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.09.

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.