GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Decreased by Clark Estates Inc. NY

Clark Estates Inc. NY trimmed its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 39.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,000 shares of the company’s stock after selling 75,123 shares during the quarter. GE HealthCare Technologies comprises 2.0% of Clark Estates Inc. NY’s portfolio, making the stock its 11th largest holding. Clark Estates Inc. NY’s holdings in GE HealthCare Technologies were worth $10,793,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter worth approximately $25,000. LGT Financial Advisors LLC lifted its position in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. Fred Alger Management LLC bought a new position in GE HealthCare Technologies during the 2nd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position 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 in the 3rd quarter worth $26,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEHC. Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. BTIG Research raised 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. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. One 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 given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Price Performance

GEHC opened at $82.51 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The stock has a fifty day moving average price of $88.27 and a 200 day moving average price of $83.62. The stock has a market cap of $37.70 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data 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 firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. Analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. 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 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is 3.30%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies 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.