Allspring Global Investments Holdings LLC Has $1.88 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allspring Global Investments Holdings LLC cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 20.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,131 shares of the company’s stock after selling 6,216 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GE HealthCare Technologies were worth $1,880,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wynn Capital LLC grew its holdings in GE HealthCare Technologies by 4.1% during the 1st quarter. Wynn Capital LLC now owns 3,125 shares of the company’s stock worth $284,000 after acquiring an additional 122 shares during the last quarter. Fiduciary Trust Co grew its stake in shares of GE HealthCare Technologies by 1.8% in the fourth quarter. Fiduciary Trust Co now owns 7,696 shares of the company’s stock worth $595,000 after purchasing an additional 133 shares during the last quarter. Quent Capital LLC increased its holdings in GE HealthCare Technologies by 21.3% in the first quarter. Quent Capital LLC now owns 780 shares of the company’s stock valued at $71,000 after purchasing an additional 137 shares during the period. Tempus Wealth Planning LLC raised its position in GE HealthCare Technologies by 0.5% during the 2nd quarter. Tempus Wealth Planning LLC now owns 30,892 shares of the company’s stock worth $2,407,000 after purchasing an additional 141 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in GE HealthCare Technologies by 2.8% during the 1st quarter. Wealthspire Advisors LLC now owns 5,373 shares of the company’s stock worth $488,000 after buying an additional 147 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. Finally, The Goldman Sachs Group began coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target on the stock. Five research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Activity

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

GE HealthCare Technologies Trading Down 0.0 %

NASDAQ:GEHC opened at $84.80 on Wednesday. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month 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 market capitalization of $38.71 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 3.17 and a beta of 1.17. The firm has a fifty day simple moving average of $81.59 and a two-hundred day simple moving average of $83.47.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. Analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) 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.