Envestnet Portfolio Solutions Inc. Cuts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,986 shares of the company’s stock after selling 4,010 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in GE HealthCare Technologies were worth $3,973,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies in the 1st quarter worth approximately $25,000. BNP Paribas purchased a new stake in GE HealthCare Technologies in the first quarter worth $30,000. Sachetta LLC bought a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $31,000. Rise Advisors LLC lifted its position in shares of GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of GE HealthCare Technologies during the 1st quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Mizuho lowered their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. Bank of America cut their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price on the stock. Finally, Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.58.

GE HealthCare Technologies Price Performance

NASDAQ GEHC traded up $1.85 during trading on Thursday, reaching $85.32. The company’s stock had a trading volume of 825,870 shares, compared to its average volume of 3,072,637. The firm has a fifty day moving average of $79.57 and a 200 day moving average of $82.93. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The stock has a market capitalization of $38.95 billion, a PE ratio of 24.41, a P/E/G ratio of 3.00 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. GE HealthCare Technologies’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Taha Kass-Hout sold 3,300 shares of the 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 of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Westrick sold 2,750 shares of the business’s 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 directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The disclosure for this sale can be found here. 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.