Fred Alger Management LLC Takes $26,000 Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Fred Alger Management LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 334 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors also recently modified their holdings of GEHC. 9258 Wealth Management LLC boosted its position in shares of GE HealthCare Technologies by 5.7% in the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock valued at $253,000 after acquiring an additional 176 shares during the period. Orion Portfolio Solutions LLC lifted its position in GE HealthCare Technologies by 128.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 22,614 shares of the company’s stock worth $1,749,000 after purchasing an additional 12,721 shares during the period. Advisory Services Network LLC lifted its position in GE HealthCare Technologies by 15.2% during the fourth quarter. Advisory Services Network LLC now owns 12,549 shares of the company’s stock worth $970,000 after purchasing an additional 1,652 shares during the period. Hsbc Holdings PLC lifted its position in GE HealthCare Technologies by 21.1% during the fourth quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock worth $36,408,000 after purchasing an additional 81,916 shares during the period. Finally, TD Asset Management Inc lifted its position in GE HealthCare Technologies by 5.4% during the fourth quarter. TD Asset Management Inc now owns 249,514 shares of the company’s stock worth $19,292,000 after purchasing an additional 12,684 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

GEHC has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective for the company. BTIG Research raised 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 research report on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $74.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.92.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the 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 sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $91.99 on Friday. The business has a 50 day moving average of $85.13 and a 200-day moving average of $83.32. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a market capitalization of $41.99 billion, a P/E ratio of 26.90, a P/E/G ratio of 3.40 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

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.