GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Creative Planning

Creative Planning reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 38.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,941 shares of the company’s stock after selling 39,224 shares during the quarter. Creative Planning’s holdings in GE HealthCare Technologies were worth $5,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors grew its holdings in shares of GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after acquiring an additional 4,107,746 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of GE HealthCare Technologies by 18.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after acquiring an additional 189,956 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of GE HealthCare Technologies by 2.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock valued at $93,212,000 after acquiring an additional 20,776 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in GE HealthCare Technologies by 6.8% in the second quarter. Envestnet Asset Management Inc. now owns 979,031 shares of the company’s stock valued at $76,286,000 after purchasing an additional 61,935 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GEHC shares. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI lifted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $89.29 on Thursday. The company has a fifty day moving average of $88.16 and a two-hundred day moving average of $83.37. The company has a market capitalization of $40.76 billion, a PE ratio of 26.11, a P/E/G ratio of 3.39 and a beta of 1.18. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

GE HealthCare Technologies 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.