Varenne Capital Partners raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 1,273.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 242,161 shares of the company’s stock after purchasing an additional 224,525 shares during the quarter. GE HealthCare Technologies comprises about 2.6% of Varenne Capital Partners’ holdings, making the stock its 14th biggest position. Varenne Capital Partners’ holdings in GE HealthCare Technologies were worth $15,490,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of GEHC. Empowered Funds LLC grew its stake in GE HealthCare Technologies by 6.1% during the 1st quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock valued at $2,328,000 after acquiring an additional 1,665 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in GE HealthCare Technologies in the 1st quarter valued at about $259,000. Cresset Asset Management LLC lifted its stake in GE HealthCare Technologies by 12.5% in the 2nd quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock worth $578,000 after purchasing an additional 865 shares in the last quarter. Jump Financial LLC lifted its stake in GE HealthCare Technologies by 317.6% in the 2nd quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock worth $2,084,000 after purchasing an additional 21,396 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of GE HealthCare Technologies by 8.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock worth $299,000 after purchasing an additional 320 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on GEHC shares. Argus dropped their price target on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. BMO Capital Markets began coverage on GE HealthCare Technologies in a research note on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price objective on the stock. The Goldman Sachs Group restated a “neutral” rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Finally, Hovde Group initiated coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Hold” and an average price target of $77.73.
GE HealthCare Technologies Price Performance
Shares of NASDAQ GEHC opened at $68.86 on Monday. The company has a market capitalization of $31.10 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The company has a 50 day simple moving average of $68.29 and a 200-day simple moving average of $68.93. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.
GE HealthCare Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were issued a dividend of $0.035 per share. The ex-dividend date was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is currently 3.21%.
GE HealthCare Technologies Profile
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.
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