Summit Place Financial Advisors LLC Reduces Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Summit Place Financial Advisors LLC reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.3% in the third quarter, Holdings Channel reports. The firm owned 34,186 shares of the company’s stock after selling 1,183 shares during the period. GE HealthCare Technologies comprises approximately 1.8% of Summit Place Financial Advisors LLC’s holdings, making the stock its 21st biggest position. Summit Place Financial Advisors LLC’s holdings in GE HealthCare Technologies were worth $3,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital Research Global Investors grew its stake in shares of 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 buying an additional 2,647,204 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $4,410,893,000 after acquiring an additional 4,107,746 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in GE HealthCare Technologies by 18.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after buying an additional 189,956 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of GE HealthCare Technologies by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after purchasing an additional 20,776 shares during the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in shares of GE HealthCare Technologies by 1.0% in the third quarter. Stonegate Investment Group LLC now owns 979,649 shares of the company’s stock worth $91,940,000 after buying an additional 9,572 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $86.14 on Monday. The company has a market capitalization of $39.32 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.34 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. The stock has a 50 day moving average price of $88.42 and a 200 day moving average price of $83.41.

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

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Evercore ISI boosted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus upped their target price on shares of 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.23.

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.