GE HealthCare Technologies Inc. $GEHC Shares Sold by Allworth Financial LP

Allworth Financial LP lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 62.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,714 shares of the company’s stock after selling 43,525 shares during the period. Allworth Financial LP’s holdings in GE HealthCare Technologies were worth $1,646,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System increased its position in GE HealthCare Technologies by 5,693.1% during the second quarter. California State Teachers Retirement System now owns 40,913,912 shares of the company’s stock worth $2,618,900,000 after purchasing an additional 40,207,660 shares during the last quarter. Auto Owners Insurance Co boosted its holdings in GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after purchasing an additional 33,629,559 shares during the last quarter. Dodge & Cox grew its stake in shares of GE HealthCare Technologies by 13.4% in the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after buying an additional 3,693,918 shares during the period. Capital Research Global Investors grew its stake in shares of GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after buying an additional 389,796 shares during the period. Finally, State Street Corp increased its holdings in shares of GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock worth $1,644,475,000 after buying an additional 401,932 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $79.00 price objective on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. Argus reduced their target price on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Finally, UBS Group raised their price objective on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Stock Down 0.5%

GE HealthCare Technologies stock opened at $63.93 on Friday. The company has a market capitalization of $28.88 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.70 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a 50 day moving average price of $68.37 and a 200 day moving average price of $68.43.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Research analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.