Amalgamated Bank Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Amalgamated Bank lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,175 shares of the company’s stock after buying an additional 1,757 shares during the quarter. Amalgamated Bank’s holdings in GE HealthCare Technologies were worth $8,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEHC. Vanguard Group Inc. increased its stake in shares of GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares in the last quarter. Bank of Montreal Can raised its position in GE HealthCare Technologies by 27.5% in the second quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock valued at $54,964,000 after purchasing an additional 150,137 shares during the period. Sei Investments Co. raised its position in GE HealthCare Technologies by 30.6% in the first quarter. Sei Investments Co. now owns 279,336 shares of the company’s stock valued at $25,393,000 after purchasing an additional 65,476 shares during the period. Douglas Lane & Associates LLC increased its position in shares of GE HealthCare Technologies by 2.2% during the third quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock worth $43,171,000 after acquiring an additional 10,099 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of GE HealthCare Technologies by 5,075,130.0% during the first quarter. Canada Pension Plan Investment Board now owns 507,523 shares of the company’s stock worth $46,139,000 after acquiring an additional 507,513 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI increased their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $2,101,291.04. 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 can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Stock Down 1.6 %

GEHC stock opened at $86.78 on Thursday. The company’s 50 day simple moving average is $88.74 and its 200-day simple moving average is $83.46. The firm has a market capitalization of $39.65 billion, a PE ratio of 23.84, a P/E/G ratio of 3.12 and a beta of 1.24. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results 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 net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

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.