SpiderRock Advisors LLC Invests $313,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

SpiderRock Advisors LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 3,455 shares of the company’s stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Capital Research Global Investors boosted its stake in GE HealthCare Technologies by 2.8% during the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock valued at $3,969,975,000 after acquiring an additional 1,401,566 shares during the last quarter. Vanguard Group Inc. grew its stake in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after buying an additional 471,910 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in GE HealthCare Technologies by 17.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock valued at $267,121,000 after buying an additional 504,287 shares in the last quarter. Finally, Norges Bank bought a new position in GE HealthCare Technologies during the 4th quarter worth approximately $229,052,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $0.40 during trading hours on Friday, reaching $76.84. 591,521 shares of the company’s stock traded hands, compared to its average volume of 3,152,522. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The business’s fifty day simple moving average is $79.13 and its two-hundred day simple moving average is $81.80. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The firm has a market capitalization of $35.07 billion, a price-to-earnings ratio of 22.58, a P/E/G ratio of 2.78 and a beta of 1.20.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm earned $0.85 EPS. GE HealthCare Technologies’s revenue was down 1.2% on a year-over-year basis. Analysts predict that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GEHC shares. Argus boosted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Bank of America decreased their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Mizuho cut their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Evercore ISI lifted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.09.

Insider Activity

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The disclosure for this sale can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

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.