Cherry Creek Investment Advisors Inc. Has $2.92 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cherry Creek Investment Advisors Inc. boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,351 shares of the company’s stock after buying an additional 114 shares during the quarter. GE HealthCare Technologies makes up about 1.4% of Cherry Creek Investment Advisors Inc.’s holdings, making the stock its 19th biggest position. Cherry Creek Investment Advisors Inc.’s holdings in GE HealthCare Technologies were worth $2,920,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. State Street Corp increased its position in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the period. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after buying an additional 733,819 shares during the period. D1 Capital Partners L.P. acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $268,159,000. Charles Schwab Investment Management Inc. grew its holdings in GE HealthCare Technologies by 12.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after acquiring an additional 290,019 shares during the period. Finally, Van ECK Associates Corp acquired a new position in GE HealthCare Technologies in the third quarter valued at about $208,513,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. 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 note on Monday, September 30th. Finally, Evercore ISI lifted their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $88.99 on Tuesday. The stock has a market capitalization of $40.66 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.88 and a beta of 1.11. 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 company’s 50-day moving average is $82.45 and its 200 day moving average is $84.84. GE HealthCare Technologies Inc. has a 1 year low of $72.50 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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.