Parallel Advisors LLC Trims Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Parallel Advisors LLC lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,417 shares of the company’s stock after selling 354 shares during the period. Parallel Advisors LLC’s holdings in GE HealthCare Technologies were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. HBK Sorce Advisory LLC lifted its holdings in GE HealthCare Technologies by 13.1% during the 2nd quarter. HBK Sorce Advisory LLC now owns 6,820 shares of the company’s stock worth $531,000 after buying an additional 790 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in GE HealthCare Technologies by 42.7% during the 2nd quarter. Meeder Advisory Services Inc. now owns 5,348 shares of the company’s stock worth $417,000 after buying an additional 1,599 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in GE HealthCare Technologies by 28.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 69,149 shares of the company’s stock worth $5,450,000 after buying an additional 15,119 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in GE HealthCare Technologies by 27.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,716 shares of the company’s stock worth $1,614,000 after buying an additional 4,509 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in GE HealthCare Technologies by 2.2% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 21,525 shares of the company’s stock worth $1,677,000 after buying an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC opened at $86.79 on Wednesday. The stock has a market cap of $39.62 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 3.26 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. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average price of $83.26 and a 200 day moving average price of $83.31.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $0.03 per share. 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 (DPR) is currently 3.51%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GEHC shares. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Stifel Nicolaus started coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Finally, Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.58.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

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.