GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Lessened by Front Street Capital Management Inc.

Front Street Capital Management Inc. lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,732 shares of the company’s stock after selling 2,962 shares during the period. GE HealthCare Technologies comprises about 1.2% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Front Street Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $6,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. Capital Research Global Investors lifted its holdings in GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after acquiring an additional 2,647,204 shares during the last quarter. Perpetual Ltd acquired a new stake in GE HealthCare Technologies in the 1st quarter valued at about $96,135,000. Jacobs Levy Equity Management Inc. raised its holdings in 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 worth $68,957,000 after buying an additional 743,523 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of GE HealthCare Technologies by 41.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock valued at $145,021,000 after purchasing an additional 550,612 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

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

GE HealthCare Technologies Stock Up 0.7 %

Shares of GE HealthCare Technologies stock opened at $90.88 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.06 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 business has a fifty day simple moving average of $84.27 and a 200 day simple moving average of $83.20. The stock has a market cap of $41.48 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last announced 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 business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Research analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) 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 that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, 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 document filed with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

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.