Cherry Creek Investment Advisors Inc. Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cherry Creek Investment Advisors Inc. grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,351 shares of the company’s stock after buying an additional 114 shares during the period. GE HealthCare Technologies makes up about 1.4% of Cherry Creek Investment Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Cherry Creek Investment Advisors Inc.’s holdings in GE HealthCare Technologies were worth $2,920,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GEHC. LGT Financial Advisors LLC lifted its position in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in GE HealthCare Technologies in the 3rd quarter worth about $31,000. Finally, Continuum Advisory LLC boosted its holdings in shares of GE HealthCare Technologies by 101.8% in the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on 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 directly owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Up 0.4 %

Shares of NASDAQ:GEHC opened at $88.99 on Tuesday. The company has a market capitalization of $40.66 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.88 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $82.45 and its 200-day simple moving average is $84.84. GE HealthCare Technologies Inc. has a 52-week low of $72.50 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the company earned $0.99 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Analysts Set New Price Targets

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