Arthur M. Cohen & Associates LLC Purchases New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Arthur M. Cohen & Associates LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,270 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEHC. Pathway Financial Advisers LLC acquired a new position in GE HealthCare Technologies in the first quarter valued at $25,000. Fred Alger Management LLC acquired a new position in GE HealthCare Technologies in the second quarter valued at $26,000. Elkhorn Partners Limited Partnership acquired a new position in GE HealthCare Technologies in the second quarter valued at $31,000. ORG Partners LLC increased its stake in GE HealthCare Technologies by 2,475.0% in the second quarter. ORG Partners LLC now owns 412 shares of the company’s stock valued at $32,000 after purchasing an additional 396 shares during the period. Finally, M&R Capital Management Inc. acquired a new position in shares of GE HealthCare Technologies during the third quarter worth about $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company’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 transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GEHC has been the topic of a number of recent analyst reports. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. 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. Finally, Stifel Nicolaus boosted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Trading Up 0.5 %

Shares of GEHC traded up $0.40 on Tuesday, hitting $87.39. 34,267 shares of the stock traded hands, compared to its average volume of 2,991,013. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $39.93 billion, a P/E ratio of 23.90, a P/E/G ratio of 3.12 and a beta of 1.24. The stock’s 50 day moving average is $88.61 and its two-hundred day moving average is $83.42. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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 given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

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.