Cypress Capital Group Takes $267,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cypress Capital Group acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,850 shares of the company’s stock, valued at approximately $267,000.

Several other institutional investors have also recently bought and sold shares of GEHC. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies in the first quarter worth about $25,000. LGT Financial Advisors LLC grew its holdings in GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Fred Alger Management LLC bought a new position in GE HealthCare Technologies in the 2nd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $26,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies in the third quarter worth $26,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 3.0 %

GEHC stock opened at $82.32 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $37.61 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 2.96 and a beta of 1.24. The business has a fifty day moving average price of $88.44 and a 200 day moving average price of $83.57. GE HealthCare Technologies Inc. has a fifty-two week low of $66.39 and a fifty-two week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. During the same quarter in the prior year, the company earned $0.99 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts expect that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date was Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is 3.30%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies 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 directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEHC. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.