Burney Co. Trims Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Burney Co. decreased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,321 shares of the company’s stock after selling 781 shares during the quarter. Burney Co.’s holdings in GE HealthCare Technologies were worth $804,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GEHC. Pathway Financial Advisers LLC purchased a new position in GE HealthCare Technologies during the first quarter valued at approximately $25,000. BNP Paribas purchased a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $30,000. Sachetta LLC bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $31,000. Rise Advisors LLC grew its stake in GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after purchasing an additional 239 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of GE HealthCare Technologies during the first quarter valued at about $31,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.33 during midday trading on Thursday, hitting $84.26. The company’s stock had a trading volume of 668,555 shares, compared to its average volume of 2,970,457. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The firm’s 50 day moving average is $81.14 and its 200-day moving average is $83.46. The firm has a market cap of $38.46 billion, a P/E ratio of 24.81, a P/E/G ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The firm 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 firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.51%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GEHC shares. Stifel Nicolaus assumed coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective on the stock. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Mizuho reduced their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Bank of America lowered their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Insider Activity

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

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.