GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Trian Fund Management L.P.

Trian Fund Management L.P. lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 99.7% during the third quarter, Holdings Channel.com reports. The fund owned 4,029 shares of the company’s stock after selling 1,338,804 shares during the period. GE HealthCare Technologies accounts for about 0.0% of Trian Fund Management L.P.’s holdings, making the stock its 9th biggest holding. Trian Fund Management L.P.’s holdings in GE HealthCare Technologies were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at about $25,000. LGT Financial Advisors LLC boosted its holdings 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 worth $25,000 after buying an additional 251 shares in the last quarter. Fred Alger Management LLC acquired a new position in GE HealthCare Technologies in the second quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $26,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated 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 approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GEHC. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Stock Up 0.8 %

Shares of GEHC traded up $0.62 during mid-day trading on Wednesday, hitting $83.13. 167,559 shares of the company’s stock were exchanged, compared to its average volume of 3,071,740. The stock has a market cap of $37.98 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.96 and a beta of 1.24. The firm has a fifty day moving average of $88.27 and a two-hundred day moving average of $83.62. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a twelve month low of $66.39 and a twelve month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 of this dividend is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

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.