GE HealthCare Technologies Inc. $GEHC Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 23.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 276,439 shares of the company’s stock after selling 84,036 shares during the quarter. Douglas Lane & Associates LLC’s holdings in GE HealthCare Technologies were worth $18,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEHC. State Street Corp raised its stake in shares of GE HealthCare Technologies by 1.6% during the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after buying an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in GE HealthCare Technologies by 13.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after acquiring an additional 1,571,226 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of GE HealthCare Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after purchasing an additional 105,995 shares during the period. Boston Partners boosted its holdings in GE HealthCare Technologies by 21.7% during the fourth quarter. Boston Partners now owns 4,659,562 shares of the company’s stock worth $382,223,000 after buying an additional 830,626 shares in the last quarter. 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 in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GEHC shares. Barclays raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Wednesday. Hovde Group started coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 price target on the stock. BMO Capital Markets assumed coverage on GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price objective for the company. Weiss Ratings raised shares of GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of GE HealthCare Technologies in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $78.52.

GE HealthCare Technologies Stock Up 2.2%

Shares of GEHC stock traded up $1.42 on Friday, reaching $65.64. 790,681 shares of the stock were exchanged, compared to its average volume of 4,259,048. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.71 and a beta of 0.73. The business’s 50 day moving average price is $68.73 and its 200 day moving average price is $66.87. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.GE HealthCare Technologies’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 earned $1.06 EPS. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 23rd. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 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.