Sargent Investment Group LLC Sells 562 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sargent Investment Group LLC reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 13.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,699 shares of the company’s stock after selling 562 shares during the quarter. Sargent Investment Group LLC’s holdings in GE HealthCare Technologies were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors lifted its holdings in shares of 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 valued at $4,908,406,000 after buying an additional 2,647,204 shares during the period. Vanguard Group Inc. boosted its position 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 valued at $4,410,893,000 after acquiring an additional 4,107,746 shares in the last quarter. Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies in the third quarter valued at about $208,513,000. The Manufacturers Life Insurance Company boosted its position in GE HealthCare Technologies by 18.0% in the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after buying an additional 189,956 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in GE HealthCare Technologies by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock valued at $95,952,000 after buying an additional 23,448 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GEHC has been the subject of several analyst reports. Evercore ISI increased their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded up $0.41 during midday trading on Thursday, hitting $84.59. The company had a trading volume of 594,036 shares, compared to its average volume of 3,033,686. The company has a market cap of $38.65 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.05 and a beta of 1.24. 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 company has a fifty day moving average of $88.85 and a two-hundred day moving average of $83.48. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55.

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

GE HealthCare Technologies Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.30%.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies 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.