GE HealthCare Technologies Inc. $GEHC Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 51.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,550 shares of the company’s stock after selling 10,126 shares during the period. Strategic Advisors LLC’s holdings in GE HealthCare Technologies were worth $611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Auto Owners Insurance Co raised its position 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 in the last quarter. Dodge & Cox grew its position in shares of GE HealthCare Technologies by 13.4% during the fourth quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock worth $2,559,945,000 after buying an additional 3,693,918 shares in the last quarter. Capital Research Global Investors grew its position in shares of GE HealthCare Technologies by 1.6% during the fourth quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock worth $2,080,248,000 after buying an additional 389,796 shares in the last quarter. State Street Corp increased its stake in shares of GE HealthCare Technologies by 2.0% during the fourth 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 period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after buying an additional 1,571,226 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 price target for the company. Zacks Research raised shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Argus reduced their price objective on shares of GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Evercore reaffirmed an “outperform” rating and set a $84.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Price Performance

GEHC stock opened at $71.72 on Monday. The business has a 50 day moving average price of $67.67 and a 200 day moving average price of $69.26. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The stock has a market cap of $32.39 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 2.07 and a beta of 0.69. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77.

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

GE HealthCare Technologies Dividend Announcement

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

About GE HealthCare Technologies

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.