Herbst Group LLC Has $1.81 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Herbst Group LLC boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 25.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,190 shares of the company’s stock after acquiring an additional 4,690 shares during the quarter. Herbst Group LLC’s holdings in GE HealthCare Technologies were worth $1,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. LGT Financial Advisors LLC lifted its stake in shares of 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 acquiring an additional 251 shares during the period. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies during the 2nd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 0.3 %

Shares of GE HealthCare Technologies stock opened at $84.74 on Friday. GE HealthCare Technologies Inc. has a 52-week low of $71.31 and a 52-week high of $94.55. 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 $81.98 and its 200 day simple moving average is $84.38. The firm has a market cap of $38.72 billion, a PE ratio of 23.28, a P/E/G ratio of 2.80 and a beta of 1.11.

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

GE HealthCare Technologies Increases Dividend

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

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value 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 trade represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GEHC shares. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, Stifel Nicolaus boosted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

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.