Peapack Gladstone Financial Corp Reduces Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Peapack Gladstone Financial Corp trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,564 shares of the company’s stock after selling 187 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in GE HealthCare Technologies were worth $616,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp lifted its stake in shares of GE HealthCare Technologies by 7.8% in the 3rd 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 last quarter. Geode Capital Management LLC lifted its position in GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after buying an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies in the third quarter worth $268,159,000. Charles Schwab Investment Management Inc. boosted its stake in GE HealthCare Technologies by 12.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after buying an additional 290,019 shares during the period. Finally, Van ECK Associates Corp bought a new position in GE HealthCare Technologies during the third quarter valued at $208,513,000. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $81.10 on Monday. GE HealthCare Technologies Inc. has a 1-year low of $71.31 and a 1-year high of $94.55. The business has a 50-day moving average price of $85.84 and a 200 day moving average price of $83.78. The company has a market capitalization of $37.05 billion, a P/E ratio of 22.28, a PEG ratio of 2.96 and a beta of 1.07. 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 quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating 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 analyst estimates of $4.87 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The company’s quarterly 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 business also recently declared 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. The ex-dividend date is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEHC. Wells Fargo & Company lifted their price target 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. Evercore ISI boosted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price 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.