Insider Buying: GE HealthCare Technologies Inc. (NASDAQ:GEHC) Insider Buys $100,623.80 in Stock

GE HealthCare Technologies Inc. (NASDAQ:GEHC) insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the transaction, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $79.47 on Friday. The company has a market cap of $36.27 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 2.80 and a beta of 1.26. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50. 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 stock’s fifty day moving average price is $88.25 and its 200-day moving average price is $78.89.

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

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Hedge Funds Weigh In On GE HealthCare Technologies

Several institutional investors and hedge funds have recently bought and sold shares of GEHC. Commonwealth Equity Services LLC lifted its position in GE HealthCare Technologies by 9.2% during the third quarter. Commonwealth Equity Services LLC now owns 124,500 shares of the company’s stock valued at $8,471,000 after purchasing an additional 10,515 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in GE HealthCare Technologies by 69.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 78,493 shares of the company’s stock valued at $5,341,000 after purchasing an additional 32,051 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in GE HealthCare Technologies by 10.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 103,284 shares of the company’s stock valued at $7,027,000 after purchasing an additional 10,101 shares in the last quarter. Xponance Inc. increased its holdings in shares of GE HealthCare Technologies by 8.5% in the third quarter. Xponance Inc. now owns 53,074 shares of the company’s stock worth $3,611,000 after purchasing an additional 4,154 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of GE HealthCare Technologies by 55.7% during the third quarter. Pinnacle Associates Ltd. now owns 11,978 shares of the company’s stock valued at $815,000 after buying an additional 4,284 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GEHC shares. Evercore ISI raised their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Citigroup lifted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. HSBC assumed coverage on GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Argus lifted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.00.

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.