LPL Financial LLC Acquires 59,860 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

LPL Financial LLC grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 397,120 shares of the company’s stock after purchasing an additional 59,860 shares during the period. LPL Financial LLC owned approximately 0.09% of GE HealthCare Technologies worth $30,944,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Coldstream Capital Management Inc. increased its position in GE HealthCare Technologies by 28.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 8,599 shares of the company’s stock worth $670,000 after purchasing an additional 1,890 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of GE HealthCare Technologies by 12.7% in the second quarter. Daiwa Securities Group Inc. now owns 73,471 shares of the company’s stock worth $5,725,000 after purchasing an additional 8,292 shares during the last quarter. Andra AP fonden acquired a new stake in shares of GE HealthCare Technologies in the second quarter valued at about $577,000. Royal London Asset Management Ltd. increased its position in GE HealthCare Technologies by 2.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 171,635 shares of the company’s stock valued at $13,374,000 after purchasing an additional 3,862 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in GE HealthCare Technologies by 15.7% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 7,776 shares of the company’s stock worth $606,000 after purchasing an additional 1,054 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GEHC. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for 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 on the stock. 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 target price for the company. Finally, Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.58.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC opened at $86.64 on Tuesday. The firm’s fifty day moving average price is $83.26 and its two-hundred day moving average price is $83.31. The company has a market capitalization of $39.55 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 3.26 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. 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 data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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