Granite Bay Wealth Management LLC Takes $534,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Granite Bay Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,468 shares of the company’s stock, valued at approximately $534,000.

Other hedge funds also recently modified their holdings of the company. Wynn Capital LLC grew its holdings in shares of GE HealthCare Technologies by 4.1% in the 1st quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock worth $284,000 after acquiring an additional 122 shares during the last quarter. Byrne Asset Management LLC grew its holdings in shares of GE HealthCare Technologies by 0.8% in the 1st quarter. Byrne Asset Management LLC now owns 16,424 shares of the company’s stock worth $1,493,000 after acquiring an additional 126 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in shares of GE HealthCare Technologies by 7.7% in the 1st quarter. WASHINGTON TRUST Co now owns 1,853 shares of the company’s stock worth $168,000 after acquiring an additional 133 shares during the last quarter. Fiduciary Trust Co grew its holdings in shares of GE HealthCare Technologies by 1.8% in the 4th quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after acquiring an additional 133 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of GE HealthCare Technologies by 21.3% in the 1st quarter. Quent Capital LLC now owns 780 shares of the company’s stock worth $71,000 after acquiring an additional 137 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the transaction, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The disclosure for this sale can be found here. Insiders have sold a total of 73,005 shares of company stock valued at $5,941,366 in the last 90 days. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

GEHC has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price target on the stock. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Mizuho lowered their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Bank of America reduced 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. Finally, 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. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.58.

GE HealthCare Technologies Trading Down 1.2 %

NASDAQ:GEHC traded down $1.03 during trading hours on Monday, hitting $82.37. 1,564,388 shares of the stock were exchanged, compared to its average volume of 3,103,293. The company’s 50 day moving average is $79.20 and its two-hundred day moving average is $82.79. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $37.60 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

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.