Hotchkis & Wiley Capital Management LLC Lowers Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,593,548 shares of the company’s stock after selling 66,480 shares during the quarter. GE HealthCare Technologies makes up 1.7% of Hotchkis & Wiley Capital Management LLC’s holdings, making the stock its 14th biggest holding. Hotchkis & Wiley Capital Management LLC’s holdings in GE HealthCare Technologies were worth $524,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC raised 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 worth $25,000 after acquiring an additional 251 shares in the last quarter. Fred Alger Management LLC purchased a new position in GE HealthCare Technologies during the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $83.08 on Tuesday. The firm has a market capitalization of $37.96 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.98 and a beta of 1.08. The business’s 50-day moving average is $87.78 and its two-hundred day moving average is $83.65. GE HealthCare Technologies Inc. has a 1 year low of $67.00 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share 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 business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a $0.035 dividend. 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 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the company’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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the subject of several research analyst reports. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Evercore ISI lifted 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 raised their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.46.

About GE HealthCare Technologies

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.