Golden State Equity Partners Takes $532,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Golden State Equity Partners acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,669 shares of the company’s stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GEHC. Quent Capital LLC increased its stake in shares of GE HealthCare Technologies by 18.4% in the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after acquiring an additional 119 shares during the last quarter. Greenleaf Trust increased its stake in shares of GE HealthCare Technologies by 1.7% in the third quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after acquiring an additional 124 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of GE HealthCare Technologies by 8.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after acquiring an additional 127 shares during the last quarter. Quarry LP increased its stake in shares of GE HealthCare Technologies by 28.3% in the second quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after acquiring an additional 131 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in GE HealthCare Technologies by 13.0% in the third quarter. Cromwell Holdings LLC now owns 1,147 shares of the company’s stock worth $108,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $87.20 on Thursday. The firm has a market cap of $39.80 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.34 and a beta of 1.18. The company has a 50 day moving average of $88.51 and a 200-day moving average of $83.42. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 1-year low of $65.77 and a 1-year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GEHC. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.23.

Insider Activity at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

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.