GE HealthCare Technologies Inc. $GEHC Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,771,907 shares of the company’s stock after selling 121,169 shares during the period. Legal & General Group Plc owned about 0.61% of GE HealthCare Technologies worth $177,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at $26,000. Godfrey Financial Associates Inc. acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth about $27,000. Montag A & Associates Inc. boosted its position in shares of GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock worth $28,000 after acquiring an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 331.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock valued at $28,000 after acquiring an additional 262 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 0.8%

NASDAQ:GEHC opened at $73.31 on Thursday. The company has a market capitalization of $33.11 billion, a PE ratio of 16.81, a P/E/G ratio of 2.13 and a beta of 0.69. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The stock’s 50 day moving average price is $67.25 and its 200 day moving average price is $69.37. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were given a $0.035 dividend. The ex-dividend date 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 3.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on GE HealthCare Technologies from $105.00 to $90.00 in a research note on Thursday, April 30th. BMO Capital Markets assumed coverage on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price objective on the stock. BTIG Research restated a “buy” rating and set a $79.00 price objective on shares of GE HealthCare Technologies in a research report on Wednesday, August 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GE HealthCare Technologies in a research report on Wednesday, August 12th. Finally, Hovde Group initiated coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Company Profile

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.