Strategic Financial Concepts LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Strategic Financial Concepts LLC acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,963 shares of the company’s stock, valued at approximately $1,326,000.

Several other hedge funds have also recently modified their holdings of GEHC. CWM LLC lifted its stake in GE HealthCare Technologies by 5.0% in the 3rd quarter. CWM LLC now owns 11,186 shares of the company’s stock worth $1,050,000 after purchasing an additional 531 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of GE HealthCare Technologies by 587.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,160 shares of the company’s stock worth $296,000 after purchasing an additional 2,700 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of GE HealthCare Technologies by 1.7% in the third quarter. Exchange Traded Concepts LLC now owns 10,676 shares of the company’s stock worth $1,002,000 after buying an additional 175 shares in the last quarter. Armstrong Advisory Group Inc. boosted its stake in GE HealthCare Technologies by 32.0% during the third quarter. Armstrong Advisory Group Inc. now owns 1,255 shares of the company’s stock valued at $118,000 after buying an additional 304 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in GE HealthCare Technologies by 14.6% during the 3rd quarter. Wesbanco Bank Inc. now owns 17,027 shares of the company’s stock valued at $1,598,000 after buying an additional 2,175 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GEHC shares. Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

GE HealthCare Technologies Stock Down 0.2 %

Shares of NASDAQ GEHC opened at $87.50 on Tuesday. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.55. The firm has a 50-day simple moving average of $83.43 and a two-hundred day simple moving average of $85.34. The company has a market cap of $39.98 billion, a P/E ratio of 24.04, a PEG ratio of 2.93 and a beta of 1.15. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is 3.85%.

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.