Spinnaker Trust Sells 709 Shares of GE HealthCare Technologies Inc. $GEHC

Spinnaker Trust lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,624 shares of the company’s stock after selling 709 shares during the quarter. Spinnaker Trust’s holdings in GE HealthCare Technologies were worth $3,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC lifted its position in GE HealthCare Technologies by 3.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,751,773 shares of the company’s stock valued at $464,226,000 after purchasing an additional 176,572 shares during the last quarter. JPMorgan Chase & Co. lifted its position in GE HealthCare Technologies by 49.9% during the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company’s stock valued at $414,894,000 after purchasing an additional 1,711,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in GE HealthCare Technologies by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,943,579 shares of the company’s stock valued at $398,975,000 after purchasing an additional 157,839 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in GE HealthCare Technologies by 15.2% during the first quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company’s stock valued at $251,121,000 after purchasing an additional 409,636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in GE HealthCare Technologies by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,069,114 shares of the company’s stock valued at $247,708,000 after purchasing an additional 109,858 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GEHC. Weiss Ratings reiterated a “hold (c+)” rating on shares of GE HealthCare Technologies in a research report on Tuesday, October 14th. Zacks Research lowered shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a report on Thursday, September 18th. BTIG Research set a $87.00 target price on shares of GE HealthCare Technologies in a report on Wednesday. Finally, Wall Street Zen lowered shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $85.00.

GE HealthCare Technologies Trading Down 2.5%

NASDAQ GEHC opened at $77.38 on Thursday. The stock has a market cap of $35.33 billion, a PE ratio of 15.86, a PEG ratio of 3.03 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company’s 50-day moving average price is $75.06 and its 200-day moving average price is $72.90. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business posted $1.14 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 EPS. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 2.87%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.