Seven Grand Managers LLC Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Seven Grand Managers LLC lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 150.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,000 shares of the company’s stock after acquiring an additional 150,000 shares during the quarter. GE HealthCare Technologies accounts for approximately 5.3% of Seven Grand Managers LLC’s holdings, making the stock its 4th largest position. Seven Grand Managers LLC owned 0.05% of GE HealthCare Technologies worth $23,462,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in GE HealthCare Technologies during the first quarter worth about $25,000. BNP Paribas acquired a new stake in shares of GE HealthCare Technologies during the 1st quarter worth approximately $30,000. Fred Alger Management LLC acquired a new stake in shares of GE HealthCare Technologies during the 2nd quarter worth approximately $26,000. Rise Advisors LLC boosted its position in GE HealthCare Technologies by 241.4% during the 1st 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 period. Finally, Riverview Trust Co bought a new position in GE HealthCare Technologies during the 1st quarter worth $31,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on GEHC. Evercore ISI raised their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Wednesday, September 18th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given 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 $94.23.

GE HealthCare Technologies Trading Down 0.5 %

Shares of GEHC stock opened at $90.22 on Thursday. The stock has a 50-day simple moving average of $87.58 and a 200 day simple moving average of $83.36. The stock has a market capitalization of $41.18 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.39 and a beta of 1.18. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.55. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies 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 directly owns 17,509 shares in the company, valued at $1,414,377.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.27% of the company’s stock.

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.