Franklin Resources Inc. Lowers Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Franklin Resources Inc. lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.2% during the 3rd quarter, Holdings Channel reports. The firm owned 66,431 shares of the company’s stock after selling 1,495 shares during the period. Franklin Resources Inc.’s holdings in GE HealthCare Technologies were worth $6,086,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. D1 Capital Partners L.P. bought a new stake in shares of GE HealthCare Technologies during the third quarter valued at approximately $268,159,000. Van ECK Associates Corp bought a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at about $208,513,000. State Street Corp boosted its holdings in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of GE HealthCare Technologies during the third quarter valued at about $93,713,000. Finally, Marshall Wace LLP bought a new stake in shares of GE HealthCare Technologies in the second quarter worth about $63,639,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GEHC. Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Wednesday, September 18th. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.46.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Stock Up 1.9 %

Shares of NASDAQ:GEHC opened at $78.91 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The business has a 50 day simple moving average of $84.64 and a two-hundred day simple moving average of $83.76. GE HealthCare Technologies Inc. has a 1 year low of $71.31 and a 1 year high of $94.55. The firm has a market capitalization of $36.05 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the previous year, the business earned $0.99 EPS. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

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.