abrdn plc Has $10.59 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

abrdn plc lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.9% in the third quarter, HoldingsChannel reports. The firm owned 113,592 shares of the company’s stock after selling 31,807 shares during the period. abrdn plc’s holdings in GE HealthCare Technologies were worth $10,586,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of GE HealthCare Technologies by 2.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock worth $93,212,000 after buying an additional 20,776 shares in the last quarter. Norden Group LLC acquired a new stake in GE HealthCare Technologies during the 1st quarter valued at $1,291,000. First Trust Direct Indexing L.P. raised its position in GE HealthCare Technologies by 14.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 9,904 shares of the company’s stock valued at $900,000 after purchasing an additional 1,230 shares during the last quarter. Van ECK Associates Corp boosted its stake in GE HealthCare Technologies by 6.9% in the first quarter. Van ECK Associates Corp now owns 61,873 shares of the company’s stock worth $5,625,000 after purchasing an additional 3,992 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of GE HealthCare Technologies by 8.3% during the first quarter. Retirement Systems of Alabama now owns 93,469 shares of the company’s stock worth $8,497,000 after purchasing an additional 7,184 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Stifel Nicolaus boosted their target price on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Trading Down 0.5 %

NASDAQ GEHC opened at $86.95 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55. The stock has a 50-day simple moving average of $88.61 and a 200 day simple moving average of $83.45. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $39.71 billion, a PE ratio of 23.89, a P/E/G ratio of 3.26 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. GE HealthCare Technologies’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

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.