Allworth Financial LP Cuts Stake in GE HealthCare Technologies Inc. $GEHC

Allworth Financial LP cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 62.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,714 shares of the company’s stock after selling 43,525 shares during the quarter. Allworth Financial LP’s holdings in GE HealthCare Technologies were worth $1,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its holdings in GE HealthCare Technologies by 16,539.1% during the 1st quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company’s stock worth $1,849,000 after purchasing an additional 25,801 shares during the period. Allstate Corp boosted its stake in shares of GE HealthCare Technologies by 100.3% in the 4th quarter. Allstate Corp now owns 32,688 shares of the company’s stock valued at $2,681,000 after buying an additional 16,365 shares during the period. Auto Owners Insurance Co grew its position in shares of GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after buying an additional 33,629,559 shares in the last quarter. Northside Capital Management LLC grew its position in shares of GE HealthCare Technologies by 26.5% during the second quarter. Northside Capital Management LLC now owns 241,923 shares of the company’s stock worth $15,485,000 after buying an additional 50,634 shares in the last quarter. Finally, Boston Partners increased its stake in shares of GE HealthCare Technologies by 21.7% during the fourth quarter. Boston Partners now owns 4,659,562 shares of the company’s stock worth $382,223,000 after buying an additional 830,626 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Argus reduced their target price on shares of GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. UBS Group increased their price objective on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings restated a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Zacks Research raised shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.73.

View Our Latest Analysis on GEHC

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $63.93 on Friday. 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 business has a 50 day simple moving average of $68.37 and a 200-day simple moving average of $68.43. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The stock has a market capitalization of $28.88 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.70 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. Equities analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 dividend yield of 0.2%. GE HealthCare Technologies’s payout ratio is presently 3.21%.

GE HealthCare Technologies Profile

(Free Report)

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.

See Also

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

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