GE HealthCare Technologies Inc. $GEHC Stock Sold by Chiron Capital Management LLC

Chiron Capital Management LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 44.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,906 shares of the company’s stock after selling 10,402 shares during the quarter. Chiron Capital Management LLC’s holdings in GE HealthCare Technologies were worth $844,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Auto Owners Insurance Co lifted its holdings in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. State Street Corp raised its position in shares of GE HealthCare Technologies by 1.6% during the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock worth $1,335,349,000 after purchasing an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after purchasing an additional 1,571,226 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in GE HealthCare Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after buying an additional 105,995 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in GE HealthCare Technologies by 4.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock valued at $286,933,000 after buying an additional 177,028 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GEHC shares. UBS Group lifted their price objective on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Barclays raised GE HealthCare Technologies to a “strong-buy” rating in a report on Wednesday, October 7th. Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $93.00 price target on shares of GE HealthCare Technologies in a research note on Monday, October 5th. Finally, Piper Sandler reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $78.35.

GE HealthCare Technologies Price Performance

NASDAQ GEHC traded up $2.04 during trading hours on Thursday, hitting $70.51. 1,349,499 shares of the company’s stock traded hands, compared to its average volume of 4,252,275. The company has a market capitalization of $31.85 billion, a PE ratio of 16.17, a PEG ratio of 1.82 and a beta of 0.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The firm’s 50-day moving average is $68.58 and its 200-day moving average is $66.76.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the company posted $1.06 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a $0.04 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 23rd. GE HealthCare Technologies’s payout ratio is 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company’s portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.