Griffin Asset Management Inc. Lowers Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Griffin Asset Management Inc. lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,143 shares of the company’s stock after selling 690 shares during the period. Griffin Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GEHC. Vanguard Group Inc. lifted its holdings 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 worth $4,410,893,000 after buying an additional 4,107,746 shares during the period. Capital Research Global Investors boosted its position in GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares in the last quarter. Marshall Wace LLP purchased a new position in GE HealthCare Technologies in the second quarter valued at about $63,639,000. Jacobs Levy Equity Management Inc. raised its holdings in GE HealthCare Technologies by 4,959.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock worth $68,957,000 after purchasing an additional 743,523 shares in the last quarter. Finally, Steadfast Capital Management LP lifted its position in shares of GE HealthCare Technologies by 182.0% during the first quarter. Steadfast Capital Management LP now owns 840,356 shares of the company’s stock valued at $76,397,000 after buying an additional 542,356 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI upped their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.23.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 0.5 %

GE HealthCare Technologies stock opened at $90.22 on Thursday. The stock has a 50-day moving average price of $87.58 and a 200 day moving average price of $83.36. The company has a market capitalization of $41.18 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.39 and a beta of 1.18. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.55. 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate 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 net margin of 8.10% and a return on equity of 25.26%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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 issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.51%.

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.