Chevy Chase Trust Holdings LLC Trims Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 232,808 shares of the company’s stock after selling 2,628 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in GE HealthCare Technologies were worth $18,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. raised its position in shares of GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after buying an additional 4,107,746 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in GE HealthCare Technologies by 17.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock worth $267,121,000 after purchasing an additional 504,287 shares in the last quarter. Finally, Norges Bank bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at about $229,052,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC stock traded down $1.65 during midday trading on Tuesday, reaching $83.94. The stock had a trading volume of 1,463,582 shares, compared to its average volume of 3,050,885. The firm has a fifty day simple moving average of $80.28 and a two-hundred day simple moving average of $83.31. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.06. The stock has a market cap of $38.32 billion, a PE ratio of 24.54, a P/E/G ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion for 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 business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

GEHC has been the topic of several research reports. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price on the stock. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Bank of America cut their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho lowered 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 research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, 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 value of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

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.