Tandem Capital Management Corp ADV Sells 405 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Tandem Capital Management Corp ADV cut its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,017 shares of the company’s stock after selling 405 shares during the quarter. GE HealthCare Technologies comprises 1.4% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 20th largest position. Tandem Capital Management Corp ADV’s holdings in GE HealthCare Technologies were worth $2,547,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies during the 1st quarter worth approximately $25,000. BNP Paribas bought a new position in GE HealthCare Technologies during the first quarter worth $30,000. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies in the second quarter valued at $26,000. Annapolis Financial Services LLC raised its position 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 valued at $32,000 after purchasing an additional 220 shares during the period. Finally, M&R Capital Management Inc. acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 0.1 %

GEHC traded up $0.07 during midday trading on Friday, hitting $88.97. 39,899 shares of the company were exchanged, compared to its average volume of 2,982,058. The firm has a market capitalization of $40.61 billion, a P/E ratio of 25.99, a P/E/G ratio of 3.39 and a beta of 1.18. The firm’s 50 day moving average price is $88.35 and its 200-day moving average price is $83.45. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.55.

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

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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 research report on Wednesday, September 18th. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target for the company. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated 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 of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

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.