Prio Wealth Limited Partnership Sells 4,590 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Prio Wealth Limited Partnership lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,766 shares of the company’s stock after selling 4,590 shares during the period. Prio Wealth Limited Partnership owned approximately 0.05% of GE HealthCare Technologies worth $22,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GEHC. Capital Research Global Investors increased its holdings in GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares during the period. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after acquiring an additional 4,107,746 shares during the period. The Manufacturers Life Insurance Company increased its holdings in GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after acquiring an additional 189,956 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in GE HealthCare Technologies by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after acquiring an additional 20,776 shares during the period. Finally, Stonegate Investment Group LLC increased its holdings in GE HealthCare Technologies by 1.0% during the 3rd quarter. Stonegate Investment Group LLC now owns 979,649 shares of the company’s stock worth $91,940,000 after acquiring an additional 9,572 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.23.

GE HealthCare Technologies Trading Down 1.1 %

Shares of GE HealthCare Technologies stock traded down $1.01 during trading on Monday, reaching $90.33. The company’s stock had a trading volume of 210,730 shares, compared to its average volume of 3,005,729. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.55. The company has a market cap of $41.23 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 3.39 and a beta of 1.18. The firm’s 50-day moving average is $87.91 and its two-hundred day moving average is $83.35. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 yield of 0.13%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

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.