Ibex Wealth Advisors Lowers Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ibex Wealth Advisors lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 97.9% in the fourth quarter, HoldingsChannel reports. The fund owned 3,961 shares of the company’s stock after selling 183,825 shares during the quarter. Ibex Wealth Advisors’ holdings in GE HealthCare Technologies were worth $310,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GEHC. Public Sector Pension Investment Board lifted its stake in GE HealthCare Technologies by 35.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 15,280 shares of the company’s stock valued at $1,191,000 after buying an additional 4,028 shares in the last quarter. Creative Planning raised its holdings in shares of GE HealthCare Technologies by 10.1% during the second quarter. Creative Planning now owns 101,165 shares of the company’s stock valued at $7,883,000 after acquiring an additional 9,273 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of GE HealthCare Technologies by 5.6% in the second quarter. NewEdge Advisors LLC now owns 14,645 shares of the company’s stock valued at $1,141,000 after acquiring an additional 775 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in GE HealthCare Technologies by 9.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,150 shares of the company’s stock valued at $636,000 after purchasing an additional 710 shares in the last quarter. Finally, Quarry LP boosted its stake in GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after purchasing an additional 131 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $87.85 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $40.14 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. The business has a 50-day moving average of $82.61 and a 200 day moving average of $84.92. GE HealthCare Technologies Inc. has a 12 month low of $72.52 and a 12 month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. As a group, 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. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Insider Activity at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the 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 in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEHC. 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 note on Thursday, October 31st. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.