Portolan Capital Management LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Portolan Capital Management LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, Holdings Channel.com reports. The firm bought 136,625 shares of the company’s stock, valued at approximately $12,822,000.

Several other institutional investors have also recently made changes to their positions in the business. LGT Financial Advisors LLC boosted its stake in GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Fred Alger Management LLC bought a new position in GE HealthCare Technologies during the second quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies during the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies during the third quarter valued at approximately $26,000. Finally, Elkhorn Partners Limited Partnership bought a new position in GE HealthCare Technologies during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Stock Down 0.6 %

GE HealthCare Technologies stock opened at $82.57 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. The business’s 50-day simple moving average is $87.62 and its two-hundred day simple moving average is $83.67. The company has a market cap of $37.72 billion, a PE ratio of 22.68, a PEG ratio of 2.97 and a beta of 1.07. GE HealthCare Technologies Inc. has a fifty-two week low of $67.00 and a fifty-two week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GEHC. Evercore ISI increased their price target 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. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.46.

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.