Spinnaker Trust Sells 25,639 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Spinnaker Trust trimmed its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 35.6% in the third quarter, HoldingsChannel.com reports. The firm owned 46,334 shares of the company’s stock after selling 25,639 shares during the period. Spinnaker Trust’s holdings in GE HealthCare Technologies were worth $4,348,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after purchasing an additional 2,647,204 shares in the last quarter. Van ECK Associates Corp acquired a new stake in GE HealthCare Technologies in the 3rd quarter valued at $208,513,000. Marshall Wace LLP acquired a new position in GE HealthCare Technologies during the second quarter worth $63,639,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of GE HealthCare Technologies by 4,959.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after buying an additional 743,523 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 3.1 %

GEHC traded down $2.74 during midday trading on Wednesday, reaching $85.43. 1,018,507 shares of the company’s stock traded hands, compared to its average volume of 2,989,383. 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 stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 3.12 and a beta of 1.24. The firm has a fifty day moving average of $88.74 and a two-hundred day moving average of $83.46. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI boosted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research raised 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. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

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.