Bridgewater Associates LP Has $5.31 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bridgewater Associates LP lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 65.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,577 shares of the company’s stock after selling 106,095 shares during the quarter. Bridgewater Associates LP’s holdings in GE HealthCare Technologies were worth $5,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in GE HealthCare Technologies in the first quarter valued at $25,000. LGT Financial Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 1,673.3% in 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 during the period. Fred Alger Management LLC acquired a new stake in GE HealthCare Technologies in the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies during the third quarter worth about $26,000. Finally, Ashton Thomas Securities LLC acquired a new position in GE HealthCare Technologies during the third quarter worth approximately $26,000. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEHC. Evercore ISI raised their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. Stifel Nicolaus raised their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Trading Up 0.3 %

Shares of GEHC stock opened at $83.22 on Friday. The stock has a market cap of $38.02 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $87.92 and a 200 day simple moving average of $83.61.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results 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. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue was up .9% compared to the same quarter last year. On average, research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.85%.

Insider Activity

In other 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.