DAVENPORT & Co LLC Sells 893 Shares of GE HealthCare Technologies Inc. $GEHC

DAVENPORT & Co LLC lowered its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 6.0% in the second quarter, HoldingsChannel reports. The firm owned 13,983 shares of the company’s stock after selling 893 shares during the period. DAVENPORT & Co LLC’s holdings in GE HealthCare Technologies were worth $1,036,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 worth $414,894,000 after acquiring an additional 1,711,963 shares during the last quarter. Nuveen LLC acquired a new stake in GE HealthCare Technologies during the first quarter worth approximately $77,058,000. Eminence Capital LP lifted its position in GE HealthCare Technologies by 38.7% during the first quarter. Eminence Capital LP now owns 1,819,129 shares of the company’s stock worth $146,822,000 after acquiring an additional 507,101 shares during the last quarter. Homestead Advisers Corp lifted its position in GE HealthCare Technologies by 92.7% during the first quarter. Homestead Advisers Corp now owns 988,600 shares of the company’s stock worth $79,790,000 after acquiring an additional 475,500 shares during the last quarter. Finally, 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 worth $251,121,000 after acquiring an additional 409,636 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GEHC. Zacks Research downgraded shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen downgraded shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Morgan Stanley set a $74.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. BTIG Research reiterated a “buy” rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Finally, Citigroup downgraded shares of GE HealthCare Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $93.00 to $83.00 in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.78.

View Our Latest Research Report on GEHC

GE HealthCare Technologies Stock Down 4.3%

NASDAQ GEHC opened at $71.01 on Friday. 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 Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a 50 day moving average of $74.31 and a 200-day moving average of $72.34. The company has a market cap of $32.42 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.84 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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