Avestar Capital LLC Acquires New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avestar Capital LLC acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,523 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 12.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock valued at $254,422,000 after acquiring an additional 290,019 shares in the last quarter. Van ECK Associates Corp acquired a new position in GE HealthCare Technologies during the 3rd quarter worth about $208,513,000. FMR LLC lifted its holdings in GE HealthCare Technologies by 4.1% during the 3rd quarter. FMR LLC now owns 2,165,826 shares of the company’s stock worth $203,263,000 after buying an additional 84,411 shares during the period. Swiss National Bank lifted its holdings in GE HealthCare Technologies by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock worth $120,802,000 after buying an additional 6,500 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after buying an additional 189,956 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $83.00 on Thursday. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The business’s 50 day simple moving average is $88.19 and its 200 day simple moving average is $83.61. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction 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 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GEHC shares. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Evercore ISI lifted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.36.

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.