Cigna Investments Inc. New Buys 193 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cigna Investments Inc. New grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,558 shares of the company’s stock after purchasing an additional 193 shares during the period. Cigna Investments Inc. New’s holdings in GE HealthCare Technologies were worth $428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pathway Financial Advisers LLC bought a new position in GE HealthCare Technologies during the 1st quarter valued at about $25,000. BNP Paribas bought a new stake in GE HealthCare Technologies in the first quarter worth about $30,000. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at approximately $26,000. M&R Capital Management Inc. bought a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $33,000. Finally, Elkhorn Partners Limited Partnership purchased a new stake in shares of GE HealthCare Technologies in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.5 %

Shares of NASDAQ:GEHC opened at $86.95 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $39.71 billion, a PE ratio of 23.89, a P/E/G ratio of 3.26 and a beta of 1.18. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The business’s fifty day simple moving average is $88.61 and its 200-day simple moving average is $83.45.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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 paid a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.30%.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. This represents a 0.00 % 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.

Analysts Set New Price Targets

Several brokerages have commented on GEHC. Evercore ISI upped 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. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus upped 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, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

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.