Prio Wealth Limited Partnership Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Prio Wealth Limited Partnership lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 239,356 shares of the company’s stock after selling 4,327 shares during the quarter. Prio Wealth Limited Partnership’s holdings in GE HealthCare Technologies were worth $18,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies during the 1st quarter worth $25,000. BNP Paribas purchased a new position in shares of GE HealthCare Technologies in the 1st quarter valued at about $30,000. Fred Alger Management LLC acquired a new stake in shares of GE HealthCare Technologies during the 2nd quarter worth about $26,000. Rise Advisors LLC lifted its stake in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in GE HealthCare Technologies during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several recent analyst reports. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. Finally, Evercore ISI boosted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $94.23.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $91.67 on Wednesday. The stock has a fifty day moving average price of $85.60 and a 200 day moving average price of $83.28. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a market cap of $41.84 billion, a PE ratio of 26.80, a P/E/G ratio of 3.40 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share 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 company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s payout ratio is 3.51%.

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.