Orrstown Financial Services Inc. Acquires New Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Orrstown Financial Services Inc. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,457 shares of the company’s stock, valued at approximately $231,000.

Other large investors have also recently bought and sold shares of the company. Quent Capital LLC boosted its holdings in shares of GE HealthCare Technologies by 18.4% in the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock valued at $72,000 after acquiring an additional 119 shares in the last quarter. Greenleaf Trust boosted its stake in GE HealthCare Technologies by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock valued at $715,000 after purchasing an additional 124 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in GE HealthCare Technologies by 8.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after purchasing an additional 127 shares in the last quarter. Quarry LP increased its position in shares of GE HealthCare Technologies by 28.3% during the 2nd quarter. Quarry LP now owns 594 shares of the company’s stock valued at $46,000 after purchasing an additional 131 shares during the period. Finally, Cromwell Holdings LLC raised its stake in shares of GE HealthCare Technologies by 13.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,147 shares of the company’s stock worth $108,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s 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 transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $85.93 on Tuesday. 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 firm has a market capitalization of $39.22 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. The company has a 50 day simple moving average of $88.43 and a 200-day simple moving average of $83.40. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s revenue was up .5% compared to the same quarter last year. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Analyst Ratings Changes

GEHC has been the subject of several research reports. Stifel Nicolaus raised their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.23.

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.