GE HealthCare Technologies Inc. $GEHC Shares Sold by Allworth Financial LP

Allworth Financial LP trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 62.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,714 shares of the company's stock after selling 43,525 shares during the period. Allworth Financial LP's holdings in GE HealthCare Technologies were worth $1,646,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Laurel Wealth Advisors LLC purchased a new position in GE HealthCare Technologies in the fourth quarter worth $26,000. Godfrey Financial Associates Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth $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 purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in shares of GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock worth $28,000 after purchasing an additional 262 shares during the period. Finally, Physician Wealth Advisors Inc. grew its stake in shares of GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 163 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Mizuho lowered their target price on shares of GE HealthCare Technologies from $90.00 to $80.00 in a research report on Thursday, April 30th. Oppenheimer reaffirmed an "outperform" rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Finally, Argus decreased their price target on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $77.73.

GE HealthCare Technologies Trading Up 1.0%

GEHC stock opened at $74.82 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The company has a market cap of $33.80 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.14 and a beta of 0.69. The business has a fifty day simple moving average of $66.61 and a 200-day simple moving average of $69.60. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results 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. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies's payout ratio is currently 3.21%.

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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