GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,186 shares of the company’s stock after selling 1,183 shares during the period. GE HealthCare Technologies accounts for about 1.8% of Summit Place Financial Advisors LLC’s holdings, making the stock its 21st biggest position. Summit Place Financial Advisors LLC’s holdings in GE HealthCare Technologies were worth $3,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GEHC. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $25,000. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at about $26,000. BNP Paribas acquired a new position in GE HealthCare Technologies during the first quarter valued at approximately $30,000. Elkhorn Partners Limited Partnership purchased a new stake in GE HealthCare Technologies during the 2nd quarter worth $31,000. Finally, ORG Partners LLC grew its stake in shares of 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 buying an additional 396 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Down 2.6 %

NASDAQ:GEHC opened at $86.14 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.55. The business has a 50 day moving average price of $88.42 and a two-hundred day moving average price of $83.41. The company has a market cap of $39.32 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. GE HealthCare Technologies’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.51%.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of analyst reports. Evercore ISI increased their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. Stifel Nicolaus increased their target price 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. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.23.

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.