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

HighTower Advisors LLC cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 22.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 96,980 shares of the company’s stock after selling 28,338 shares during the quarter. HighTower Advisors LLC’s holdings in GE HealthCare Technologies were worth $6,208,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of 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 worth $2,618,900,000 after acquiring an additional 40,207,660 shares during the period. Auto Owners Insurance Co increased its position 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 valued at $278,725,000 after purchasing an additional 33,629,559 shares during the period. Dodge & Cox raised its holdings in GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock worth $2,559,945,000 after purchasing an additional 3,693,918 shares during the last quarter. Capital Research Global Investors raised its holdings 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 worth $2,080,248,000 after purchasing an additional 389,796 shares during the last quarter. Finally, State Street Corp lifted its position 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 worth $1,644,475,000 after purchasing an additional 401,932 shares during the period. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $64.24 on Friday. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.72 and a beta of 0.70. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The stock’s 50 day moving average price is $68.40 and its two-hundred day moving average price is $68.46. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate 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 net margin of 9.33% and a return on equity of 20.12%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is currently 3.21%.

Analysts Set New Price Targets

GEHC has been the topic of a number of analyst reports. Evercore reaffirmed an “outperform” rating and issued a $84.00 price objective on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Hovde Group began coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 target price for the company. UBS Group boosted their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Wells Fargo & Company upped their price target on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Profile

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.