GE HealthCare Technologies Inc. $GEHC Stock Sold by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC reduced its GE HealthCare position by 11.4% in the third quarter, selling 17,775 shares and retaining 138,613 shares valued at approximately $9.1 million.
• Institutional investors hold 82.06% of GE HealthCare’s outstanding shares. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $78.52.
• GE HealthCare exceeded quarterly earnings expectations, reporting $1.13 in EPS and $5.29 billion in revenue, while increasing its quarterly dividend to $0.04 per share.

Galvin Gaustad & Stein LLC lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,613 shares of the company's stock after selling 17,775 shares during the period. Galvin Gaustad & Stein LLC's holdings in GE HealthCare Technologies were worth $9,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mount Vernon Associates Inc. MD lifted its holdings in shares of GE HealthCare Technologies by 0.8% during the first quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company's stock valued at $1,293,000 after purchasing an additional 144 shares during the last quarter. Essex Financial Services Inc. grew its stake in shares of GE HealthCare Technologies by 1.8% in the 1st quarter. Essex Financial Services Inc. now owns 9,024 shares of the company's stock worth $642,000 after buying an additional 156 shares during the last quarter. Brown Lisle Cummings Inc. increased its position in GE HealthCare Technologies by 29.3% during the 1st quarter. Brown Lisle Cummings Inc. now owns 706 shares of the company's stock valued at $50,000 after buying an additional 160 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in GE HealthCare Technologies by 5.8% during the first quarter. Beacon Financial Advisory LLC now owns 2,965 shares of the company's stock valued at $211,000 after buying an additional 162 shares during the last quarter. Finally, Physician Wealth Advisors Inc. raised its stake in GE HealthCare Technologies by 60.4% during the first quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company's stock valued at $31,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of several analyst reports. Hovde Group began coverage on GE HealthCare Technologies in a report on Friday, July 17th. They set a "market perform" rating and a $14.00 price target for the company. UBS Group lifted their price target on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Oppenheimer reiterated an "outperform" rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Barclays raised shares of GE HealthCare Technologies to a "strong-buy" rating in a research report on Wednesday. Finally, BTIG Research restated a "buy" rating and set a $79.00 price objective on shares of GE HealthCare Technologies in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.52.

GE HealthCare Technologies Price Performance

GEHC opened at $64.22 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The stock has a market capitalization of $29.01 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.71 and a beta of 0.73. The company's 50-day simple moving average is $68.73 and its two-hundred day simple moving average is $66.87. 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 announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 earnings per share. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be paid a $0.04 dividend. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company's portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.

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