GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 68.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,373 shares of the company’s stock after selling 11,897 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pathway Financial Advisers LLC acquired a new position in shares of GE HealthCare Technologies during the 1st quarter worth about $25,000. BNP Paribas acquired a new position in shares of GE HealthCare Technologies during the 1st quarter worth about $30,000. Sachetta LLC acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth about $31,000. Rise Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 241.4% in the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after purchasing an additional 239 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at about $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

Shares of GEHC traded down $0.96 during mid-day trading on Wednesday, hitting $83.21. The company’s stock had a trading volume of 726,491 shares, compared to its average volume of 3,079,487. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $79.44 and a 200 day simple moving average of $82.93. The firm has a market capitalization of $37.98 billion, a P/E ratio of 24.61, a P/E/G ratio of 3.00 and a beta of 1.17. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS 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 return on equity of 25.26% and a net margin of 8.10%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of several research reports. 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 target price for the company. 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. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Bank of America reduced 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. Finally, Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.