CMG Global Holdings LLC Raises Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CMG Global Holdings LLC grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,229 shares of the company’s stock after acquiring an additional 405 shares during the period. CMG Global Holdings LLC’s holdings in GE HealthCare Technologies were worth $956,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GEHC. Mesirow Financial Investment Management Inc. increased its holdings in GE HealthCare Technologies by 39.6% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after acquiring an additional 1,159 shares during the last quarter. Cathy Pareto & Associates Inc. bought a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $670,000. LMR Partners LLP bought a new stake in GE HealthCare Technologies in the 3rd quarter worth approximately $7,387,000. Principal Financial Group Inc. boosted its position in shares of GE HealthCare Technologies by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after acquiring an additional 19,010 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $1,396,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC opened at $89.55 on Friday. The business has a fifty day moving average of $82.76 and a 200 day moving average of $84.95. The stock has a market cap of $40.91 billion, a P/E ratio of 24.60, a PEG ratio of 2.90 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 52-week low of $72.52 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS 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. Stockholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Analysts Set New Price Targets

A number of equities analysts have commented on GEHC shares. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One equities 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’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which is available 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.