Act Two Investors LLC Trims Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Act Two Investors LLC cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,474 shares of the company’s stock after selling 11,750 shares during the quarter. GE HealthCare Technologies accounts for about 1.0% of Act Two Investors LLC’s portfolio, making the stock its 21st largest holding. Act Two Investors LLC’s holdings in GE HealthCare Technologies were worth $4,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Capital Management LLC increased its holdings in shares of GE HealthCare Technologies by 4.7% during the 4th quarter. Janney Capital Management LLC now owns 3,289 shares of the company’s stock valued at $254,000 after purchasing an additional 149 shares in the last quarter. American National Bank increased its holdings in shares of GE HealthCare Technologies by 25.2% during the 4th quarter. American National Bank now owns 750 shares of the company’s stock valued at $58,000 after purchasing an additional 151 shares in the last quarter. Chilton Capital Management LLC increased its holdings in shares of GE HealthCare Technologies by 15.4% during the 4th quarter. Chilton Capital Management LLC now owns 1,227 shares of the company’s stock valued at $95,000 after purchasing an additional 164 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 5.2% during the 4th quarter. Procyon Advisors LLC now owns 3,555 shares of the company’s stock valued at $275,000 after purchasing an additional 175 shares in the last quarter. Finally, 9258 Wealth Management LLC increased its holdings in shares of GE HealthCare Technologies by 5.7% during the 4th quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock valued at $253,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity

In other news, insider Frank R. Jimenez purchased 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price 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 approximately $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jan Makela sold 20,227 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Frank R. Jimenez purchased 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded up $0.52 during trading hours on Friday, reaching $79.85. 1,433,940 shares of the company’s stock were exchanged, compared to its average volume of 2,956,483. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50. The company has a market capitalization of $36.45 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.87 and a beta of 1.26. The business has a fifty day moving average of $85.12 and a two-hundred day moving average of $80.54. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last released its 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. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $66.00 to $88.00 in a report on Monday, February 12th. HSBC assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target for the company. Mizuho cut their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Argus boosted their price target on shares of 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 six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.80.

GE HealthCare Technologies 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.