GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 20.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,498 shares of the company’s stock after selling 2,634 shares during the quarter. Carnegie Investment Counsel’s holdings in GE HealthCare Technologies were worth $818,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in GE HealthCare Technologies by 5.2% in 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 acquiring an additional 2,647,204 shares during the period. Vanguard Group Inc. increased its position in GE HealthCare Technologies by 9.2% in 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 during the period. Hotchkis & Wiley Capital Management LLC increased its position in GE HealthCare Technologies by 9.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after acquiring an additional 471,910 shares during the period. Dimensional Fund Advisors LP increased its position in shares of GE HealthCare Technologies by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock valued at $267,121,000 after purchasing an additional 504,287 shares during the period. Finally, Norges Bank acquired a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $229,052,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GE HealthCare Technologies

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GEHC. Bank of America lowered their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target on the stock. Mizuho lowered their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus assumed coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

GE HealthCare Technologies Stock Up 0.2 %

Shares of GEHC stock traded up $0.18 on Wednesday, reaching $84.12. 188,979 shares of the company’s stock traded hands, compared to its average volume of 3,032,988. The business’s 50 day moving average price is $80.28 and its two-hundred day moving average price is $83.31. The company has a market capitalization of $38.40 billion, a P/E ratio of 24.54, 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 Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

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 company had revenue of $4.84 billion for 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 business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

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.