Legal & General Group Plc Lowers Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Legal & General Group Plc lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,771,907 shares of the company’s stock after selling 121,169 shares during the period. Legal & General Group Plc’s holdings in GE HealthCare Technologies were worth $177,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $26,000. Godfrey Financial Associates Inc. purchased a new position in GE HealthCare Technologies in the 4th quarter valued at $27,000. Montag A & Associates Inc. grew its position in GE HealthCare Technologies by 105.4% in the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock valued at $28,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC increased its stake in 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 buying an additional 262 shares during the period. Finally, MV Capital Management Inc. purchased a new position in GE HealthCare Technologies during the 4th quarter worth $33,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GEHC has been the subject of several recent analyst reports. Hovde Group began coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price for the company. Citigroup boosted their target price on GE HealthCare Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. UBS Group increased their target price on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $73.31 on Thursday. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average of $67.25 and a two-hundred day moving average of $69.37. The stock has a market cap of $33.11 billion, a P/E ratio of 16.81, a PEG ratio of 2.13 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the business posted $1.06 earnings per share. GE HealthCare Technologies’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio 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.