Synergy Asset Management LLC Invests $39,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Synergy Asset Management LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 500 shares of the company’s stock, valued at approximately $39,000.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new position in GE HealthCare Technologies during the third quarter worth about $268,159,000. Charles Schwab Investment Management Inc. increased its stake in shares of GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after acquiring an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $208,513,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Trading Down 1.4 %

NASDAQ GEHC opened at $88.30 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $72.52 and a 52 week high of $94.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The stock’s 50 day moving average price is $82.87 and its two-hundred day moving average price is $85.01. The stock has a market capitalization of $40.34 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping 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 business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

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.