Summit Trail Advisors LLC Grows Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Summit Trail Advisors LLC lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,898 shares of the company’s stock after buying an additional 638 shares during the quarter. Summit Trail Advisors LLC’s holdings in GE HealthCare Technologies were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEHC. Van ECK Associates Corp acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at $208,513,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth $93,713,000. Marshall Wace LLP acquired a new position in GE HealthCare Technologies in the second quarter valued at $63,639,000. International Assets Investment Management LLC increased its stake in GE HealthCare Technologies by 10,227.3% in the third quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after purchasing an additional 615,891 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. Wells Fargo & Company upped their price objective 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, Evercore ISI increased their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $82.51 on Wednesday. The company has a market cap of $37.70 billion, a P/E ratio of 22.67, a PEG ratio of 2.95 and a beta of 1.24. GE HealthCare Technologies Inc. has a one year low of $66.39 and a one year high of $94.55. The business’s 50-day simple moving average is $88.27 and its 200 day simple moving average is $83.62. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $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 fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a $0.035 dividend. 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 yield of 0.17%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

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.