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

Pointe Capital Management LLC acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,093 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEHC. BNP Paribas acquired a new position in GE HealthCare Technologies during the 1st quarter valued at approximately $30,000. 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. Riverview Trust Co acquired a new position in GE HealthCare Technologies during the 1st quarter valued at approximately $31,000. Annapolis Financial Services LLC boosted its position in GE HealthCare Technologies by 171.9% during the 1st quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock valued at $32,000 after purchasing an additional 220 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at approximately $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GEHC. Evercore ISI boosted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup boosted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target for the company. Bank of America reduced their price target 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, Mizuho dropped their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Frank R. Jimenez bought 1,315 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value of $100,623.80. Following the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. Insiders sold a total of 90,482 shares of company stock valued at $7,369,137 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Down 0.1 %

Shares of GEHC traded down $0.09 during trading hours on Monday, hitting $80.19. 2,478,923 shares of the company were exchanged, compared to its average volume of 3,123,204. The company has a market cap of $36.60 billion, a PE ratio of 23.45, a PEG ratio of 2.89 and a beta of 1.20. The firm’s 50 day moving average is $78.79 and its 200-day moving average is $81.95. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The firm’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

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.