HighTower Advisors LLC Has $6.21 Million Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• HighTower Advisors reduced its GE HealthCare stake by 22.6% in the second quarter, selling 28,338 shares and retaining 96,980 shares valued at approximately $6.21 million. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment is mixed, with 10 Buy ratings and 11 Holds; the stock has an average rating of Hold and an average price target of $77.73. Recent targets range from $73 to $85.
• GE HealthCare exceeded quarterly expectations, reporting $1.13 EPS versus the $1.04 consensus and $5.29 billion in revenue, up 5.8% year over year. Shares opened at $64.24, while the company maintains a $0.14 annualized dividend yielding about 0.2%.

HighTower Advisors LLC decreased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 22.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,980 shares of the company's stock after selling 28,338 shares during the period. HighTower Advisors LLC's holdings in GE HealthCare Technologies were worth $6,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted 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 during the last quarter. Auto Owners Insurance Co raised its holdings in GE HealthCare Technologies by 9,525.4% during the 4th 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 during the last quarter. Dodge & Cox lifted its position in GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company's stock valued at $2,559,945,000 after purchasing an additional 3,693,918 shares during the period. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 1.6% during the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock valued at $2,080,248,000 after purchasing an additional 389,796 shares during the period. Finally, State Street Corp boosted its stake in shares of GE HealthCare Technologies by 2.0% in the 4th quarter. State Street Corp now owns 20,049,677 shares of the company's stock valued at $1,644,475,000 after purchasing an additional 401,932 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on GEHC shares. UBS Group lifted their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. BTIG Research reiterated a "buy" rating and issued a $79.00 price target on shares of GE HealthCare Technologies in a research report on Wednesday, August 19th. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. The Goldman Sachs Group reissued a "neutral" rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Finally, Piper Sandler reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $77.73.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $64.24 on Friday. 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 stock's fifty day moving average price is $68.40 and its two-hundred day moving average price is $68.46. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The firm has a market cap of $29.02 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.72 and a beta of 0.70.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analysts' expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a $0.035 dividend. The ex-dividend date was Friday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company's Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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