First Trust Advisors LP Sells 275,000 Shares of GE HealthCare Technologies Inc. $GEHC

First Trust Advisors LP reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 38.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 440,549 shares of the company's stock after selling 275,000 shares during the period. First Trust Advisors LP owned about 0.10% of GE HealthCare Technologies worth $31,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $26,000. Optima Capital LLC bought a new position in GE HealthCare Technologies during the 4th quarter worth $27,000. Godfrey Financial Associates Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter worth about $27,000. Montag A & Associates Inc. grew its position in shares of 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. Finally, Transamerica Financial Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 331.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock worth $28,000 after acquiring an additional 262 shares during the period. Institutional investors own 82.06% of the company's stock.

Insider Transactions at GE HealthCare Technologies

In other news, Director Kevin Lobo acquired 10,000 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the purchase, the director owned 14,363 shares in the company, valued at approximately $921,817.34. This represents a 229.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Saccaro bought 3,310 shares of the business's stock in a transaction dated Friday, May 1st. The stock was acquired at an average price of $60.60 per share, for a total transaction of $200,586.00. Following the purchase, the chief financial officer directly owned 87,471 shares in the company, valued at approximately $5,300,742.60. The trade was a 3.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 21,847 shares of company stock worth $1,361,355. 0.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group reduced their price objective on shares of GE HealthCare Technologies from $69.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, July 16th. Evercore set a $80.00 price target on GE HealthCare Technologies in a report on Thursday, April 30th. Wells Fargo & Company reduced their price target on shares of GE HealthCare Technologies from $97.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Jefferies Financial Group cut their price objective on shares of GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. Finally, Stifel Nicolaus set a $80.00 target price on GE HealthCare Technologies in a research report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $76.41.

GE HealthCare Technologies Trading Up 4.9%

GEHC opened at $64.11 on Wednesday. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a market capitalization of $29.16 billion, a PE ratio of 15.34, a P/E/G ratio of 1.66 and a beta of 0.72. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.22 and a quick ratio of 0.95. The company's 50-day moving average is $63.68 and its 200 day moving average is $70.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). GE HealthCare Technologies had a return on equity of 20.46% and a net margin of 9.10%.The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.89 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, July 24th. GE HealthCare Technologies's payout ratio is currently 3.35%.

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.

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