Cacti Asset Management LLC Boosts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cacti Asset Management LLC increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,916 shares of the company’s stock after acquiring an additional 250 shares during the quarter. Cacti Asset Management LLC’s holdings in GE HealthCare Technologies were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. State Street Corp boosted its holdings in GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after acquiring an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC boosted its holdings in GE HealthCare Technologies by 7.2% in the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after purchasing an additional 733,819 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in GE HealthCare Technologies in the 3rd quarter worth approximately $268,159,000. Charles Schwab Investment Management Inc. lifted 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 buying an additional 290,019 shares during the period. Finally, Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth $208,513,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GEHC has been the topic of a number of recent research reports. Evercore ISI increased their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company boosted their target price 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. Stifel Nicolaus raised their target price 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. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company 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, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $95.46.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $0.20 during trading hours on Thursday, reaching $77.98. The company had a trading volume of 359,970 shares, compared to its average volume of 3,057,291. The firm has a market cap of $35.63 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. GE HealthCare Technologies Inc. has a 1-year low of $71.31 and a 1-year high of $94.55. The business’s 50 day moving average price is $82.82 and its 200-day moving average price is $83.92. 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 data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. 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. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insider Activity

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Company 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.