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

Key Points

• Anchor Capital Advisors reduced its GE HealthCare stake by 32.1% in the second quarter, selling 199,245 shares and retaining 421,287 shares valued at approximately $27.0 million.
• Institutional ownership remains high at 82.06%, with several major investors—including California State Teachers Retirement System, Norges Bank and Barrow Hanley—substantially increasing or initiating positions.
• GE HealthCare exceeded quarterly expectations, reporting $1.13 EPS and $5.29 billion in revenue, while analysts maintain a consensus “Hold” rating with an average price target of $77.73 versus the stock’s $68.86 opening price.

Anchor Capital Advisors LLC lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 32.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 421,287 shares of the company's stock after selling 199,245 shares during the quarter. Anchor Capital Advisors LLC owned 0.09% of GE HealthCare Technologies worth $26,967,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System raised its holdings in GE HealthCare Technologies by 5,693.1% in the second quarter. California State Teachers Retirement System now owns 40,913,912 shares of the company's stock valued at $2,618,900,000 after acquiring an additional 40,207,660 shares in the last quarter. Auto Owners Insurance Co grew its stake in shares of GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock worth $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Norges Bank acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $596,024,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in GE HealthCare Technologies in the fourth quarter valued at $533,655,000. Finally, Cynosure Group LLC increased its holdings in GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company's stock valued at $358,055,000 after buying an additional 4,344,817 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $68.86 on Tuesday. The firm's fifty day simple moving average is $68.36 and its 200-day simple moving average is $68.84. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The stock has a market capitalization of $31.10 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter in the prior year, the business earned $1.06 EPS. GE HealthCare Technologies's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business 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. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies's payout ratio is 3.21%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEHC. Oppenheimer reaffirmed an "outperform" rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Zacks Research raised GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c-)" rating on shares of GE HealthCare Technologies in a research note on Wednesday, August 12th. Piper Sandler reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada assumed coverage on shares of GE HealthCare Technologies in a research report on Tuesday, June 23rd. They set an "outperform" rating and a $80.00 price objective for the company. Ten 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 presently has a consensus rating of "Hold" and an average target price of $77.73.

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.

Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.