Griffin Asset Management Inc. Decreases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Griffin Asset Management Inc. cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,082 shares of the company’s stock after selling 1,061 shares during the quarter. Griffin Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEHC. LGT Financial Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of GE HealthCare Technologies during the third quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $31,000. Finally, Continuum Advisory LLC grew its holdings in GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Evercore ISI raised 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. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $87.78 on Wednesday. The stock has a market capitalization of $40.10 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.88 and a beta of 1.11. The business’s fifty day moving average price is $82.55 and its 200 day moving average price is $84.90. 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 Inc. has a 12-month low of $72.50 and a 12-month high of $94.55.

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. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. 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 yield of 0.16%. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.85%.

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.