Ferguson Wellman Capital Management Inc. Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 91.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,270 shares of the company’s stock after selling 177,034 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $1,570,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GEHC. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after buying an additional 5,693,244 shares during the period. Norges Bank acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $229,052,000. Capital Research Global Investors grew its stake in shares of GE HealthCare Technologies by 2.8% in the fourth quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock valued at $3,969,975,000 after buying an additional 1,401,566 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after buying an additional 1,221,436 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of GE HealthCare Technologies by 1,323.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock valued at $69,682,000 after buying an additional 952,182 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Down 0.0 %

Shares of NASDAQ GEHC opened at $78.25 on Thursday. The company has a market capitalization of $35.72 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 2.81 and a beta of 1.22. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The business has a 50-day moving average of $80.85 and a two-hundred day moving average of $81.33. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. GE HealthCare Technologies’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insiders Place Their Bets

In other news, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The disclosure for this sale can be found here. Insiders sold 90,482 shares of company stock valued at $7,369,137 in the last ninety days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Citigroup lifted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI lifted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Mizuho decreased 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. Finally, Bank of America decreased their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average target price of $94.09.

GE HealthCare Technologies Company 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.