GE HealthCare Technologies Inc. $GEHC Shares Sold by Jones Financial Companies Lllp

Jones Financial Companies Lllp reduced its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 34.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,856 shares of the company’s stock after selling 99,580 shares during the period. Jones Financial Companies Lllp’s holdings in GE HealthCare Technologies were worth $12,418,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of GE HealthCare Technologies by 6.1% during the 1st quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock worth $2,328,000 after purchasing an additional 1,665 shares during the period. Acadian Asset Management LLC acquired a new position in GE HealthCare Technologies during the 1st quarter valued at approximately $259,000. Cresset Asset Management LLC boosted its position in GE HealthCare Technologies by 12.5% during the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock valued at $578,000 after purchasing an additional 865 shares during the period. Jump Financial LLC grew its stake in GE HealthCare Technologies by 317.6% during the 2nd quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock worth $2,084,000 after buying an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in GE HealthCare Technologies by 8.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock worth $299,000 after buying an additional 320 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEHC shares. Royal Bank Of Canada began coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price on the stock. Oppenheimer reissued an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. BNP Paribas Exane lowered their price target on shares of GE HealthCare Technologies from $95.00 to $88.00 in a research report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and issued a $84.00 price objective on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Stock Down 0.8%

GEHC opened at $74.19 on Tuesday. The stock’s 50 day moving average price is $66.80 and its 200 day moving average price is $69.49. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The stock has a market cap of $33.51 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.16 and a beta of 0.69. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 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. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, research 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were issued a $0.035 dividend. 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 presently 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.