GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,961,518 shares of the company’s stock after selling 2,132,389 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.18% of GE HealthCare Technologies worth $905,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEHC. Turtle Creek Wealth Advisors LLC bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $30,000. BNP Paribas bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at about $30,000. Sachetta LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $31,000. Rise Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in GE HealthCare Technologies during the first quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors.

Insider Activity

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total transaction of $5,459,510.70. Following the completion of the sale, the chief executive officer now owns 63,348 shares in the company, valued at approximately $5,165,395.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jimenez acquired 1,315 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the purchase, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 in the last three months. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Up 0.7 %

GEHC traded up $0.58 on Friday, reaching $80.50. 2,532,946 shares of the company traded hands, compared to its average volume of 2,617,851. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The company has a market cap of $36.75 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.90 and a beta of 1.20. The stock’s 50 day moving average price is $78.65 and its 200-day moving average price is $82.18.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company posted $0.85 EPS. GE HealthCare Technologies’s revenue was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Analysts Set New Price Targets

Several research firms have issued reports on GEHC. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Mizuho reduced their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America dropped their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Argus upped their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Citigroup lifted their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

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.