GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Otter Creek Advisors LLC

Otter Creek Advisors LLC increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 178.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,996 shares of the company’s stock after purchasing an additional 34,570 shares during the quarter. GE HealthCare Technologies accounts for about 3.3% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Otter Creek Advisors LLC’s holdings in GE HealthCare Technologies were worth $5,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 290,019 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at approximately $208,513,000. Swiss National Bank boosted its stake in shares of GE HealthCare Technologies by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock valued at $120,802,000 after buying an additional 6,500 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of 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 valued at $97,088,000 after buying an additional 189,956 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of GE HealthCare Technologies by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock valued at $95,952,000 after buying an additional 23,448 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several research analyst reports. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Wednesday, September 18th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Trading Down 3.0 %

NASDAQ:GEHC opened at $82.32 on Friday. The stock has a market cap of $37.61 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 2.96 and a beta of 1.24. The stock’s 50-day moving average is $88.44 and its two-hundred day moving average is $83.57. GE HealthCare Technologies Inc. has a fifty-two week low of $66.39 and a fifty-two week 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 announced 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. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. 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.