Envestnet Asset Management Inc. Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Envestnet Asset Management Inc. raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 979,031 shares of the company’s stock after acquiring an additional 61,935 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of GE HealthCare Technologies worth $76,286,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new position in shares of GE HealthCare Technologies in the 1st quarter worth $25,000. BNP Paribas purchased a new position in GE HealthCare Technologies in the first quarter worth $30,000. Sachetta LLC purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at about $31,000. 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 position in shares of GE HealthCare Technologies in the 1st quarter worth about $31,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $86.79 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. The firm has a market cap of $39.62 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 3.26 and a beta of 1.17. The firm has a fifty day moving average price of $83.26 and a 200 day moving average price of $83.31. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50.

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, topping 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 business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on GEHC shares. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target for the company. Finally, The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Six research 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, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $94.58.

Insiders Place Their Bets

In related news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction dated 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 directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

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.