Spinnaker Trust Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Spinnaker Trust cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,116 shares of the company’s stock after selling 218 shares during the period. Spinnaker Trust’s holdings in GE HealthCare Technologies were worth $3,605,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. grew its holdings in shares of GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after purchasing an additional 1,159 shares in the last quarter. Cathy Pareto & Associates Inc. acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $670,000. LMR Partners LLP acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $7,387,000. Principal Financial Group Inc. grew its holdings in shares of GE HealthCare Technologies by 1.9% in the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of GE HealthCare Technologies in the third quarter valued at approximately $1,396,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GEHC has been the subject of several analyst reports. Citigroup boosted their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.85.

GE HealthCare Technologies Stock Down 1.4 %

Shares of NASDAQ:GEHC opened at $92.21 on Friday. The company has a market capitalization of $42.13 billion, a PE ratio of 25.33, a P/E/G ratio of 2.93 and a beta of 1.15. 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 twelve month low of $74.51 and a twelve month high of $94.80. The firm has a 50 day simple moving average of $84.03 and a 200-day simple moving average of $85.51.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 14th were given a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

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.