TCW Group Inc. Raises Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

TCW Group Inc. lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 533,352 shares of the company’s stock after buying an additional 33,937 shares during the quarter. TCW Group Inc. owned approximately 0.12% of GE HealthCare Technologies worth $50,055,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GEHC. QRG Capital Management Inc. increased its holdings in GE HealthCare Technologies by 5.9% during the second quarter. QRG Capital Management Inc. now owns 6,643 shares of the company’s stock valued at $518,000 after buying an additional 370 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 1.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,276 shares of the company’s stock worth $723,000 after purchasing an additional 174 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of GE HealthCare Technologies by 5.4% during the 2nd quarter. Wedmont Private Capital now owns 4,807 shares of the company’s stock worth $386,000 after purchasing an additional 246 shares during the last quarter. M&G Plc boosted its position in GE HealthCare Technologies by 4.7% during the second quarter. M&G Plc now owns 79,422 shares of the company’s stock valued at $6,195,000 after purchasing an additional 3,547 shares in the last quarter. Finally, ORG Partners LLC grew its stake in GE HealthCare Technologies by 2,475.0% in the second quarter. ORG Partners LLC now owns 412 shares of the company’s stock valued at $32,000 after purchasing an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 0.6 %

Shares of NASDAQ GEHC opened at $82.36 on Wednesday. GE HealthCare Technologies Inc. has a 52-week low of $69.09 and a 52-week high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The company’s 50-day simple moving average is $86.37 and its 200-day simple moving average is $83.72. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. 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 dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies 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 sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GEHC. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. Stifel Nicolaus raised their price objective on 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 GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.46.

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.