Trian Fund Management L.P. Sells 1,338,804 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Trian Fund Management L.P. lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 99.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,029 shares of the company’s stock after selling 1,338,804 shares during the period. GE HealthCare Technologies makes up 0.0% of Trian Fund Management L.P.’s portfolio, making the stock its 9th biggest position. Trian Fund Management L.P.’s holdings in GE HealthCare Technologies were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GEHC. Charles Schwab Investment Management Inc. boosted its holdings in GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after acquiring an additional 290,019 shares during the period. Van ECK Associates Corp purchased a new position in shares of GE HealthCare Technologies in the third quarter valued at $208,513,000. FMR LLC grew its holdings in GE HealthCare Technologies by 4.1% during the 3rd quarter. FMR LLC now owns 2,165,826 shares of the company’s stock valued at $203,263,000 after purchasing an additional 84,411 shares in the last quarter. Swiss National Bank increased its stake in GE HealthCare Technologies by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,287,187 shares of the company’s stock worth $120,802,000 after buying an additional 6,500 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in GE HealthCare Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after buying an additional 189,956 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. 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 research report on Wednesday, September 18th. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus increased their target price on 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 lifted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded up $0.62 on Wednesday, reaching $83.13. 167,559 shares of the company were exchanged, compared to its average volume of 3,071,740. GE HealthCare Technologies Inc. has a 1-year low of $66.39 and a 1-year high of $94.55. The firm has a market cap of $37.98 billion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.96 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. The company’s 50-day moving average is $88.27 and its two-hundred day moving average is $83.62.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. 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 presently 3.30%.

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies 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 sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.