Discovery Capital Management LLC CT Sells 10,200 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Discovery Capital Management LLC CT trimmed its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,800 shares of the company’s stock after selling 10,200 shares during the period. GE HealthCare Technologies makes up about 4.3% of Discovery Capital Management LLC CT’s portfolio, making the stock its 5th largest holding. Discovery Capital Management LLC CT owned 0.09% of GE HealthCare Technologies worth $32,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. Capital Research Global Investors grew its position in GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares during the last quarter. Perpetual Ltd bought a new position in shares of GE HealthCare Technologies in the first quarter valued at $96,135,000. Jacobs Levy Equity Management Inc. lifted its position in shares of GE HealthCare Technologies by 4,959.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after acquiring an additional 743,523 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of GE HealthCare Technologies by 41.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock worth $145,021,000 after acquiring an additional 550,612 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $90.28 on Monday. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The stock’s 50-day moving average is $84.06 and its two-hundred day moving average is $83.21. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The firm has a market cap of $41.21 billion, a P/E ratio of 26.40, a PEG ratio of 3.26 and a beta of 1.17.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus began coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

GE HealthCare Technologies Company 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.