TIAA Trust National Association Lowers Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

TIAA Trust National Association reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,897 shares of the company’s stock after selling 379 shares during the quarter. TIAA Trust National Association’s holdings in GE HealthCare Technologies were worth $849,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GEHC. International Assets Investment Management LLC raised its stake in shares of GE HealthCare Technologies by 6.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,828 shares of the company’s stock worth $605,000 after acquiring an additional 499 shares in the last quarter. Fisher Asset Management LLC raised its position in GE HealthCare Technologies by 44.2% in the 4th quarter. Fisher Asset Management LLC now owns 6,116 shares of the company’s stock worth $473,000 after purchasing an additional 1,876 shares during the period. 9258 Wealth Management LLC raised its position in GE HealthCare Technologies by 5.7% in the 4th quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after purchasing an additional 176 shares during the period. Private Advisor Group LLC lifted its stake in GE HealthCare Technologies by 17.5% in the fourth quarter. Private Advisor Group LLC now owns 27,723 shares of the company’s stock worth $2,143,000 after purchasing an additional 4,127 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its position in GE HealthCare Technologies by 42.2% during the fourth quarter. Apollon Wealth Management LLC now owns 6,224 shares of the company’s stock valued at $481,000 after buying an additional 1,847 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Stock Down 0.3 %

Shares of GE HealthCare Technologies stock opened at $87.29 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a market cap of $39.84 billion, a P/E ratio of 25.52, a PEG ratio of 3.17 and a beta of 1.17. The company’s fifty day simple moving average is $81.95 and its two-hundred day simple moving average is $83.53.

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

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GEHC. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price on the stock. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $95.00.

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.