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

DAVENPORT & Co LLC lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other large investors have also made changes to their positions in GEHC. N.E.W. Advisory Services LLC acquired a new position in GE HealthCare Technologies in the 1st quarter worth $25,000. Bogart Wealth LLC boosted its stake in GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company’s stock worth $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC boosted its stake in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company’s stock worth $29,000 after purchasing an additional 222 shares during the period. Olde Wealth Management LLC acquired a new position in GE HealthCare Technologies in the 1st quarter worth $35,000. Finally, Zions Bancorporation National Association UT acquired a new position in GE HealthCare Technologies in the 1st quarter worth $42,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $71.01 on Friday. The stock has a market capitalization of $32.42 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.84 and a beta of 1.13. The business has a 50-day moving average of $74.31 and a 200-day moving average of $72.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the company earned $1.00 EPS. GE HealthCare Technologies’s revenue for the quarter was up 3.5% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

GEHC has been the subject of a number of research analyst reports. Citigroup lowered shares of GE HealthCare Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $93.00 to $83.00 in a research note on Tuesday. Wall Street Zen lowered shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE HealthCare Technologies in a research note on Saturday, September 27th. Finally, BTIG Research restated a “buy” rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $85.78.

About GE HealthCare Technologies

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.