Franklin Resources Inc. Cuts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Franklin Resources Inc. decreased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,431 shares of the company’s stock after selling 1,495 shares during the period. Franklin Resources Inc.’s holdings in GE HealthCare Technologies were worth $6,086,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tidal Investments LLC increased its position in GE HealthCare Technologies by 32.5% during the 3rd quarter. Tidal Investments LLC now owns 23,715 shares of the company’s stock valued at $2,226,000 after buying an additional 5,819 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of GE HealthCare Technologies by 150.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 11,278 shares of the company’s stock valued at $1,058,000 after acquiring an additional 6,770 shares in the last quarter. World Investment Advisors LLC raised its position in shares of GE HealthCare Technologies by 44.5% in the 3rd quarter. World Investment Advisors LLC now owns 4,716 shares of the company’s stock worth $443,000 after purchasing an additional 1,453 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in GE HealthCare Technologies by 29.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,761 shares of the company’s stock worth $1,948,000 after purchasing an additional 4,738 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its position in GE HealthCare Technologies by 4.2% during the 3rd quarter. Diamant Asset Management Inc. now owns 10,257 shares of the company’s stock valued at $963,000 after purchasing an additional 410 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GEHC shares. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus upped their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a report on Wednesday, September 18th. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.46.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $78.91 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $36.05 billion, a P/E ratio of 21.68, a PEG ratio of 2.96 and a beta of 1.07. The company has a 50-day moving average price of $84.64 and a 200-day moving average price of $83.76. GE HealthCare Technologies Inc. has a 52 week low of $71.31 and a 52 week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.18%. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is currently 3.85%.

About GE HealthCare Technologies

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.