Allspring Global Investments Holdings LLC Has $2.32 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allspring Global Investments Holdings LLC raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,693 shares of the company’s stock after acquiring an additional 562 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GE HealthCare Technologies were worth $2,317,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GEHC. Pathway Financial Advisers LLC bought a new stake in shares of GE HealthCare Technologies during the first quarter valued at approximately $25,000. Fred Alger Management LLC bought a new stake in GE HealthCare Technologies in the 2nd quarter valued at $26,000. BNP Paribas acquired a new position in shares of GE HealthCare Technologies in the 1st quarter valued at $30,000. Elkhorn Partners Limited Partnership bought a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $31,000. Finally, ORG Partners LLC boosted its position in shares of GE HealthCare Technologies by 2,475.0% during the 2nd quarter. ORG Partners LLC now owns 412 shares of the company’s stock valued at $32,000 after acquiring an additional 396 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GEHC. Evercore ISI raised their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

Insider Activity at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,414,377.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Stock Down 0.8 %

Shares of NASDAQ GEHC opened at $85.27 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $38.92 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. The firm’s 50-day moving average is $88.46 and its 200-day moving average is $83.39. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 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.