Wedmont Private Capital Buys 246 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wedmont Private Capital lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.4% in the second quarter, HoldingsChannel.com reports. The fund owned 4,807 shares of the company’s stock after acquiring an additional 246 shares during the quarter. Wedmont Private Capital’s holdings in GE HealthCare Technologies were worth $386,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GEHC. Jennison Associates LLC boosted its stake in shares of GE HealthCare Technologies by 49.4% in the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after purchasing an additional 399,961 shares in the last quarter. South Dakota Investment Council grew its stake in shares of GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after buying an additional 71,857 shares during the last quarter. US Bancorp DE increased its holdings in shares of GE HealthCare Technologies by 83.4% in the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after buying an additional 66,638 shares during the period. Cerity Partners LLC lifted its stake in shares of GE HealthCare Technologies by 27.2% in the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after acquiring an additional 9,809 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its holdings in GE HealthCare Technologies by 93.1% during the 4th quarter. John G Ullman & Associates Inc. now owns 57,916 shares of the company’s stock valued at $4,478,000 after acquiring an additional 27,931 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEHC. Stifel Nicolaus assumed coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective for the company. The Goldman Sachs Group began coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Mizuho dropped their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Bank of America dropped their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.58.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC traded up $1.80 during trading on Tuesday, reaching $84.17. 1,764,035 shares of the company traded hands, compared to its average volume of 3,094,654. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a 50 day simple moving average of $79.30 and a 200-day simple moving average of $82.85. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The stock has a market capitalization of $38.42 billion, a PE ratio of 24.08, a P/E/G ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

Insiders Place Their Bets

In other news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the sale, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,005 shares of company stock valued at $5,941,366. Insiders own 0.27% of the company’s stock.

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.