Sargent Investment Group LLC Reduces Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sargent Investment Group LLC trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,261 shares of the company’s stock after selling 587 shares during the quarter. Sargent Investment Group LLC’s holdings in GE HealthCare Technologies were worth $332,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies during the first quarter valued at approximately $25,000. BNP Paribas bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at approximately $30,000. Rise Advisors LLC raised its holdings in GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares during the period. Riverview Trust Co bought a new stake in GE HealthCare Technologies in the first quarter worth $31,000. Finally, Annapolis Financial Services LLC boosted its stake in GE HealthCare Technologies by 171.9% during the first quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after buying an additional 220 shares during the period. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 0.2 %

Shares of NASDAQ:GEHC opened at $86.79 on Wednesday. The business’s 50 day moving average is $83.26 and its 200 day moving average is $83.31. The stock has a market cap of $39.62 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business 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 business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. Sell-side 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 was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEHC. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 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 target price for the company. Finally, The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.58.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

About GE HealthCare Technologies

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.