Bank of Montreal Can Acquires 11,507 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bank of Montreal Can lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 707,953 shares of the company’s stock after purchasing an additional 11,507 shares during the period. Bank of Montreal Can’s holdings in GE HealthCare Technologies were worth $65,125,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Associated Banc Corp bought a new position in shares of GE HealthCare Technologies in the third quarter worth about $353,000. Hancock Whitney Corp grew its position in GE HealthCare Technologies by 2.5% during the third quarter. Hancock Whitney Corp now owns 21,342 shares of the company’s stock worth $2,003,000 after buying an additional 517 shares in the last quarter. Independent Advisor Alliance grew its position in GE HealthCare Technologies by 14.2% during the third quarter. Independent Advisor Alliance now owns 7,472 shares of the company’s stock worth $701,000 after buying an additional 929 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in GE HealthCare Technologies by 92.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 27,740 shares of the company’s stock worth $2,603,000 after buying an additional 13,347 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in GE HealthCare Technologies by 12.1% during the third quarter. Daiwa Securities Group Inc. now owns 82,361 shares of the company’s stock worth $7,730,000 after buying an additional 8,890 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. 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 Stock Up 0.6 %

NASDAQ GEHC opened at $83.00 on Thursday. The firm has a market cap of $37.92 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.96 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 stock’s 50 day simple moving average is $88.19 and its 200 day simple moving average is $83.61. 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 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 analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change 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%. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GEHC shares. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. 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 research report on Thursday, October 31st. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. 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 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 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.