Sargent Investment Group LLC Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sargent Investment Group LLC decreased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 12.1% in the second quarter, HoldingsChannel reports. The fund owned 4,261 shares of the company’s stock after selling 587 shares during the quarter. Sargent Investment Group LLC’s holdings in GE HealthCare Technologies were worth $332,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. 9258 Wealth Management LLC lifted its holdings in shares of GE HealthCare Technologies by 5.7% during the 4th quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock valued at $253,000 after purchasing an additional 176 shares during the last quarter. Principal Securities Inc. acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $38,000. Level Four Advisory Services LLC raised its stake in GE HealthCare Technologies by 5.7% in the fourth quarter. Level Four Advisory Services LLC now owns 3,455 shares of the company’s stock valued at $267,000 after buying an additional 187 shares during the last quarter. Independent Advisor Alliance boosted its holdings in GE HealthCare Technologies by 6.3% in the fourth quarter. Independent Advisor Alliance now owns 6,762 shares of the company’s stock worth $523,000 after acquiring an additional 401 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $229,052,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEHC. Stifel Nicolaus assumed coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective on the stock. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.58.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’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 completion of the transaction, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $86.79 on Wednesday. The firm has a market capitalization of $39.62 billion, a P/E ratio of 25.38, a PEG ratio of 3.26 and a beta of 1.17. The stock has a 50-day simple moving average of $83.26 and a two-hundred day simple moving average of $83.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. 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 announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period last year, the business earned $0.92 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies 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.