CHURCHILL MANAGEMENT Corp Acquires 4,573 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CHURCHILL MANAGEMENT Corp boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,427 shares of the company’s stock after acquiring an additional 4,573 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in GE HealthCare Technologies were worth $8,399,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GEHC. State Street Corp increased its position in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $1,026,898,000 after acquiring an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at $268,159,000. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $254,422,000 after acquiring an additional 290,019 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth about $208,513,000. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at $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 SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 0.6 %

Shares of NASDAQ:GEHC opened at $83.66 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $38.22 billion, a PE ratio of 22.98, a P/E/G ratio of 2.90 and a beta of 1.11. GE HealthCare Technologies Inc. has a 12-month low of $71.31 and a 12-month high of $94.55. The business’s fifty day simple moving average is $82.13 and its 200-day simple moving average is $84.27.

GE HealthCare Technologies (NASDAQ:GEHC) last announced 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 business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous 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, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.17%. 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 (DPR) is 3.85%.

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.