Jacobs Levy Equity Management Inc. Buys 259,316 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jacobs Levy Equity Management Inc. increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,731,313 shares of the company’s stock after acquiring an additional 259,316 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.38% of GE HealthCare Technologies worth $162,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. D1 Capital Partners L.P. acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $268,159,000. Van ECK Associates Corp acquired a new position in shares of GE HealthCare Technologies during the third quarter valued at $208,513,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth $93,713,000. Marshall Wace LLP acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter valued at $63,639,000. Finally, International Assets Investment Management LLC lifted its stake in shares of GE HealthCare Technologies by 10,227.3% in the 3rd quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after purchasing an additional 615,891 shares during the period. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Down 0.2 %

GEHC opened at $83.08 on Tuesday. The company has a market capitalization of $37.96 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. GE HealthCare Technologies Inc. has a fifty-two week low of $67.00 and a fifty-two week high of $94.55. The business has a 50-day moving average of $87.78 and a 200-day moving average of $83.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the company earned $0.99 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is currently 3.30%.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEHC. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted 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. 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 report on Wednesday, September 18th. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $95.46.

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.