Burney Co. Reduces Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Burney Co. cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,321 shares of the company’s stock after selling 781 shares during the period. Burney Co.’s holdings in GE HealthCare Technologies were worth $804,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of GE HealthCare Technologies by 83.4% in the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after acquiring an additional 66,638 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in GE HealthCare Technologies by 23.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 97,127 shares of the company’s stock valued at $7,510,000 after purchasing an additional 18,634 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of GE HealthCare Technologies during the first quarter worth $4,273,000. Vanguard Group Inc. lifted its position in shares of GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of GE HealthCare Technologies by 21.1% during the 4th quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock valued at $36,408,000 after buying an additional 81,916 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GEHC. Bank of America decreased their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective for the company. Mizuho cut their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’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 approximately $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC traded up $0.33 during trading on Thursday, reaching $84.26. The stock had a trading volume of 668,555 shares, compared to its average volume of 2,970,457. The stock has a 50 day moving average of $81.14 and a two-hundred day moving average of $83.46. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $38.46 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 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 analyst estimates of $4.88 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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