Envestnet Portfolio Solutions Inc. Has $3.97 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Envestnet Portfolio Solutions Inc. lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,986 shares of the company’s stock after selling 4,010 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in GE HealthCare Technologies were worth $3,973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEHC. Jennison Associates LLC raised its holdings in shares of GE HealthCare Technologies by 49.4% during the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after acquiring an additional 399,961 shares in the last quarter. South Dakota Investment Council lifted its holdings in shares of GE HealthCare Technologies by 272.1% during the 4th quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after buying an additional 71,857 shares during the last quarter. US Bancorp DE grew its stake in shares of GE HealthCare Technologies by 83.4% in the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after buying an additional 66,638 shares in the last quarter. Cerity Partners LLC increased its holdings in GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after buying an additional 9,809 shares during the last quarter. Finally, John G Ullman & Associates Inc. raised its position in GE HealthCare Technologies by 93.1% during the fourth quarter. John G Ullman & Associates Inc. now owns 57,916 shares of the company’s stock valued at $4,478,000 after acquiring an additional 27,931 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 traded up $1.85 during mid-day trading on Thursday, hitting $85.32. The company’s stock had a trading volume of 825,870 shares, compared to its average volume of 3,072,637. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The stock’s 50-day moving average is $79.57 and its two-hundred day moving average is $82.93. The firm has a market capitalization of $38.95 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The business 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% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies 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 sale, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price for the company. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Bank of America lowered their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, 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. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.58.

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.