Thomas J. Westrick Sells 2,750 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock

GE HealthCare Technologies Inc. (NASDAQ:GEHC) CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction that occurred 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 directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC traded up $1.08 during trading hours on Friday, hitting $83.40. The company’s stock had a trading volume of 1,584,290 shares, compared to its average volume of 3,113,350. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83. The stock has a fifty day simple moving average of $79.20 and a 200-day simple moving average of $82.65. The company has a market capitalization of $38.07 billion, a P/E ratio of 24.39, a PEG ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. On average, analysts anticipate 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 $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s payout ratio is 3.51%.

Analysts Set New Price Targets

A number of research firms recently commented on GEHC. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Mizuho dropped their price target on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Bank of America cut their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research note on Tuesday. They set a “buy” rating and a $100.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.58.

Institutional Investors Weigh In On GE HealthCare Technologies

Hedge funds have recently modified their holdings of the company. Prime Capital Investment Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 42.0% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 4,866 shares of the company’s stock valued at $376,000 after purchasing an additional 1,440 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of GE HealthCare Technologies by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 72,800 shares of the company’s stock valued at $5,629,000 after acquiring an additional 5,680 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in shares of GE HealthCare Technologies by 5.4% during the fourth quarter. Meeder Advisory Services Inc. now owns 3,634 shares of the company’s stock valued at $281,000 after acquiring an additional 185 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of GE HealthCare Technologies by 8.2% during the fourth quarter. Bleakley Financial Group LLC now owns 32,919 shares of the company’s stock worth $2,545,000 after purchasing an additional 2,489 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of GE HealthCare Technologies by 6.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,828 shares of the company’s stock worth $605,000 after purchasing an additional 499 shares during the last quarter. Institutional investors and hedge funds own 82.06% 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.