D1 Capital Partners L.P. Buys Shares of 2,857,314 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

D1 Capital Partners L.P. acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,857,314 shares of the company’s stock, valued at approximately $268,159,000. GE HealthCare Technologies makes up approximately 5.2% of D1 Capital Partners L.P.’s portfolio, making the stock its 5th largest holding. D1 Capital Partners L.P. owned about 0.63% of GE HealthCare Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of GEHC. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at approximately $25,000. LGT Financial Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies in the second quarter worth $26,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies during the third quarter valued at about $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $26,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. 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. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. UBS Group downgraded shares of 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 note on Thursday, September 26th. Finally, Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $83.00 on Friday. The stock’s fifty day moving average is $88.07 and its 200-day moving average is $83.61. The stock has a market capitalization of $37.92 billion, a PE ratio of 22.80, a PEG ratio of 2.97 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55.

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. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

GE HealthCare Technologies Profile

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.