Mengis Capital Management Inc. Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mengis Capital Management Inc. grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 53.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 33,677 shares of the company’s stock after purchasing an additional 11,685 shares during the quarter. Mengis Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $3,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in GE HealthCare Technologies by 259.9% in the 1st quarter. Empowered Funds LLC now owns 14,138 shares of the company’s stock worth $1,285,000 after buying an additional 10,210 shares in the last quarter. Sei Investments Co. raised its holdings in shares of GE HealthCare Technologies by 30.6% during the first quarter. Sei Investments Co. now owns 279,336 shares of the company’s stock valued at $25,393,000 after purchasing an additional 65,476 shares during the last quarter. Russell Investments Group Ltd. lifted its position in GE HealthCare Technologies by 11.3% during the first quarter. Russell Investments Group Ltd. now owns 89,220 shares of the company’s stock valued at $8,110,000 after purchasing an additional 9,045 shares during the period. US Bancorp DE boosted its holdings in GE HealthCare Technologies by 11.2% in the first quarter. US Bancorp DE now owns 162,996 shares of the company’s stock worth $14,818,000 after purchasing an additional 16,472 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in GE HealthCare Technologies by 8.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 92,967 shares of the company’s stock worth $8,452,000 after purchasing an additional 7,232 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEHC. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. Stifel Nicolaus raised 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. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

GE HealthCare Technologies Stock Down 0.6 %

Shares of GEHC opened at $84.92 on Wednesday. The business’s 50 day moving average is $88.92 and its 200 day moving average is $83.47. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The company has a market capitalization of $38.80 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 3.06 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last released 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. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business posted $0.99 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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