AM Investment Strategies LLC Has $2.17 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

AM Investment Strategies LLC cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,087 shares of the company’s stock after selling 143 shares during the quarter. GE HealthCare Technologies comprises about 0.5% of AM Investment Strategies LLC’s holdings, making the stock its 29th largest position. AM Investment Strategies LLC’s holdings in GE HealthCare Technologies were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GEHC. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of GE HealthCare Technologies by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after buying an additional 20,776 shares during the period. Norden Group LLC acquired a new stake in GE HealthCare Technologies in the first quarter worth $1,291,000. First Trust Direct Indexing L.P. increased its stake in GE HealthCare Technologies by 14.2% in the first quarter. First Trust Direct Indexing L.P. now owns 9,904 shares of the company’s stock valued at $900,000 after purchasing an additional 1,230 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of GE HealthCare Technologies by 6.9% during the first quarter. Van ECK Associates Corp now owns 61,873 shares of the company’s stock valued at $5,625,000 after purchasing an additional 3,992 shares during the period. Finally, Retirement Systems of Alabama boosted its position in shares of GE HealthCare Technologies by 8.3% during the 1st quarter. Retirement Systems of Alabama now owns 93,469 shares of the company’s stock worth $8,497,000 after purchasing an additional 7,184 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded down $0.40 during trading hours on Friday, hitting $86.95. 3,383,485 shares of the company were exchanged, compared to its average volume of 3,012,314. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $88.61 and a 200 day simple moving average of $83.45. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 3.26 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for 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 business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued 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 payout ratio is 3.30%.

Analysts Set New Price Targets

GEHC has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus upped their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Finally, Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.36.

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.