Sky Investment Group LLC Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sky Investment Group LLC boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,955 shares of the company’s stock after buying an additional 248 shares during the period. Sky Investment Group LLC’s holdings in GE HealthCare Technologies were worth $3,984,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. D1 Capital Partners L.P. purchased a new position in shares of GE HealthCare Technologies during the third quarter worth $268,159,000. Van ECK Associates Corp acquired a new position in GE HealthCare Technologies during the 3rd quarter worth about $208,513,000. State Street Corp boosted its holdings in 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 acquiring an additional 1,347,114 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at about $93,713,000. Finally, Marshall Wace LLP purchased a new stake in GE HealthCare Technologies during the second quarter worth about $63,639,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value 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. The trade was a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on GEHC shares. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus upped their price objective 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. Evercore ISI increased their price objective on 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 boosted their target price on 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 analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $84.74 on Tuesday. The stock’s 50-day simple moving average is $81.97 and its 200-day simple moving average is $84.48. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a market capitalization of $38.72 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis 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 of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.30%.

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.