Taha Kass-Hout Sells 3,300 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stock

GE HealthCare Technologies Inc. (NASDAQ:GEHCGet Free Report) CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $78.57 on Friday. The firm has a fifty day simple moving average of $84.16 and a two-hundred day simple moving average of $80.73. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a market capitalization of $35.86 billion, a PE ratio of 22.97, a P/E/G ratio of 2.83 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the business posted $0.85 EPS. GE HealthCare Technologies’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GEHC. Citigroup boosted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Morgan Stanley raised their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Mizuho reduced their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research note on Thursday. They issued a “neutral” rating and a $87.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.09.

Read Our Latest Stock Analysis on GE HealthCare Technologies

Institutional Investors Weigh In On GE HealthCare Technologies

A number of large investors have recently added to or reduced their stakes in GEHC. Vanguard Group Inc. boosted its holdings in shares of GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the period. Norges Bank bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $229,052,000. Capital Research Global Investors increased its stake in shares of GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after buying an additional 2,647,204 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of GE HealthCare Technologies by 84.4% during the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after acquiring an additional 1,221,436 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in GE HealthCare Technologies in the first quarter worth $96,135,000. Institutional investors own 82.06% of the company’s stock.

About GE HealthCare Technologies

(Get Free Report)

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.

Further Reading

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