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

Strategic Advisors LLC lessened its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 51.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 9,550 shares of the company’s stock after selling 10,126 shares during the quarter. Strategic Advisors LLC’s holdings in GE HealthCare Technologies were worth $611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its stake in GE HealthCare Technologies by 499.9% in the second quarter. Headlands Technologies LLC now owns 58,990 shares of the company’s stock valued at $3,776,000 after buying an additional 49,157 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of GE HealthCare Technologies by 17.0% during the second quarter. Wedbush Securities Inc. now owns 4,349 shares of the company’s stock worth $278,000 after acquiring an additional 632 shares during the last quarter. Spinnaker Trust grew its position in shares of GE HealthCare Technologies by 60.1% during the second quarter. Spinnaker Trust now owns 74,005 shares of the company’s stock worth $4,737,000 after acquiring an additional 27,772 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE HealthCare Technologies by 0.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,541,393 shares of the company’s stock valued at $162,675,000 after acquiring an additional 20,180 shares during the period. Finally, New Mexico Educational Retirement Board increased its holdings in shares of GE HealthCare Technologies by 7.6% in the 2nd quarter. New Mexico Educational Retirement Board now owns 22,692 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,600 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GEHC shares. Citigroup increased their price target on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. BTIG Research restated a “buy” rating and issued a $79.00 price objective on shares of GE HealthCare Technologies in a research note on Wednesday, August 19th. Piper Sandler reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.73.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $71.72 on Monday. The firm’s fifty day moving average price is $67.67 and its 200 day moving average price is $69.26. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The firm has a market cap of $32.39 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69.

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

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is currently 3.21%.

GE HealthCare Technologies 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.