GE HealthCare Technologies Inc. $GEHC Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies reduced its GE HealthCare Technologies stake by 34.5% in the second quarter, selling 99,580 shares and retaining 188,856 shares valued at approximately $12.4 million. Institutional investors and hedge funds collectively own 82.06% of GEHC.
• Analyst sentiment is mixed, with 10 Buy and 11 Hold ratings producing a consensus “Hold” rating and a $77.73 price target. Recent targets range from $73 to $98.
• GEHC exceeded quarterly expectations, reporting $1.13 in earnings per share on $5.29 billion in revenue, with revenue up 5.8% year over year. The company also paid a quarterly dividend of $0.035 per share.

Jones Financial Companies Lllp lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 34.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 188,856 shares of the company's stock after selling 99,580 shares during the quarter. Jones Financial Companies Lllp's holdings in GE HealthCare Technologies were worth $12,418,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEHC. Empowered Funds LLC increased its position in shares of GE HealthCare Technologies by 6.1% in the first quarter. Empowered Funds LLC now owns 28,848 shares of the company's stock worth $2,328,000 after acquiring an additional 1,665 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of GE HealthCare Technologies during the 1st quarter valued at $259,000. Cresset Asset Management LLC lifted its holdings in shares of GE HealthCare Technologies by 12.5% during the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company's stock valued at $578,000 after acquiring an additional 865 shares in the last quarter. Jump Financial LLC boosted its position in GE HealthCare Technologies by 317.6% during the 2nd quarter. Jump Financial LLC now owns 28,132 shares of the company's stock worth $2,084,000 after purchasing an additional 21,396 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in GE HealthCare Technologies by 8.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company's stock worth $299,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEHC shares. Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 price target for the company. Evercore reaffirmed an "outperform" rating and issued a $84.00 target price on shares of GE HealthCare Technologies 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 company a "neutral" rating in a research note on Friday, July 31st. Rothschild & Co Redburn dropped their target price on GE HealthCare Technologies from $110.00 to $98.00 in a report on Thursday, April 30th. Finally, BTIG Research reiterated a "buy" rating and set a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $77.73.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $74.19 on Tuesday. 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 50-day moving average of $66.80 and a two-hundred day moving average of $69.49. The stock has a market cap of $33.51 billion, a P/E ratio of 17.02, a PEG ratio of 2.16 and a beta of 0.69. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating 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 period last year, the firm earned $1.06 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal 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 paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies's 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.

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