Lynch Asset Management Inc. Acquires Shares of 2,500 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lynch Asset Management Inc. acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, HoldingsChannel.com reports. The firm acquired 2,500 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC bought a new stake in GE HealthCare Technologies during the 1st quarter valued at about $25,000. Fred Alger Management LLC bought a new stake in shares of GE HealthCare Technologies in the second quarter worth approximately $26,000. BNP Paribas bought a new stake in shares of GE HealthCare Technologies in the first quarter worth approximately $30,000. Elkhorn Partners Limited Partnership bought a new stake in shares of GE HealthCare Technologies in the second quarter worth approximately $31,000. Finally, Annapolis Financial Services LLC grew its stake in shares of GE HealthCare Technologies by 171.9% in the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after acquiring an additional 220 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at GE HealthCare Technologies

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

Analysts Set New Price Targets

GEHC has been the subject of a number of research analyst reports. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Stifel Nicolaus raised 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. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, UBS Group downgraded shares of 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.23.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded down $0.48 during mid-day trading on Friday, hitting $88.42. The company had a trading volume of 2,035,620 shares, compared to its average volume of 2,909,492. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55. The stock’s 50 day moving average price is $88.42 and its 200-day moving average price is $83.43. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a market capitalization of $40.38 billion, a P/E ratio of 25.70, a P/E/G ratio of 3.34 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.49%.

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.