Wedge Capital Management L L P NC Increases Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Wedge Capital Management L L P NC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 27.8% during the second quarter, HoldingsChannel reports. The firm owned 461,283 shares of the company’s stock after purchasing an additional 100,462 shares during the quarter. Wedge Capital Management L L P NC’s holdings in GE HealthCare Technologies were worth $29,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Western Wealth Management LLC grew its position in GE HealthCare Technologies by 2.4% in the 4th quarter. Western Wealth Management LLC now owns 5,240 shares of the company’s stock valued at $430,000 after buying an additional 125 shares during the last quarter. United Community Bank raised its position in GE HealthCare Technologies by 10.2% during the 4th quarter. United Community Bank now owns 1,410 shares of the company’s stock worth $116,000 after buying an additional 130 shares during the last quarter. Parkside Financial Bank & Trust raised its position in GE HealthCare Technologies by 3.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company’s stock worth $293,000 after buying an additional 134 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of GE HealthCare Technologies by 1.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company’s stock worth $1,030,000 after acquiring an additional 140 shares during the period. Finally, Mount Vernon Associates Inc. MD lifted its stake in shares of GE HealthCare Technologies by 0.8% in the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of GE HealthCare Technologies from $80.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings lowered GE HealthCare Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Stifel Nicolaus set a $80.00 target price on GE HealthCare Technologies in a research report on Wednesday, April 29th. Evercore reissued an “outperform” rating and set a $84.00 target price on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Finally, BTIG Research raised their price target on GE HealthCare Technologies from $75.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Hold” and a consensus target price of $77.73.

Check Out Our Latest Analysis on GEHC

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $72.75 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a 50-day simple moving average of $65.14 and a 200-day simple moving average of $69.88. The company has a market capitalization of $32.86 billion, a PE ratio of 16.69, a P/E/G ratio of 2.11 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.21%.

Insider Transactions at GE HealthCare Technologies

In related news, Director Kevin Lobo acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the transaction, the director owned 14,363 shares in the company, valued at $921,817.34. This trade represents a 229.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.36% of the company’s stock.

GE HealthCare Technologies Company Profile

(Free Report)

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

See Also

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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