Lipe & Dalton bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,805 shares of the company’s stock, valued at approximately $959,000.
A number of other hedge funds have also modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in GE HealthCare Technologies during the 2nd quarter valued at about $81,133,000. GuoLine Advisory Pte Ltd purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $49,310,000. Douglas Lane & Associates LLC acquired a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $31,215,000. Raymond James & Associates purchased a new position in GE HealthCare Technologies during the second quarter worth approximately $22,914,000. Finally, Chevy Chase Trust Holdings LLC acquired a new position in GE HealthCare Technologies during the second quarter worth $18,364,000. 79.18% of the stock is currently owned by institutional investors and hedge funds.
GE HealthCare Technologies Trading Up 1.3 %
Shares of NASDAQ GEHC traded up $0.86 during trading on Friday, reaching $68.46. The stock had a trading volume of 2,319,780 shares, compared to its average volume of 3,245,874. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. GE HealthCare Technologies Inc. has a fifty-two week low of $53.00 and a fifty-two week high of $87.83. The business’s 50-day moving average price is $69.24 and its 200-day moving average price is $76.09.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.87 by $0.05. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.79 billion. GE HealthCare Technologies’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 3.8 earnings per share for the current year.
GE HealthCare Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 20th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, October 19th.
Insider Activity
In related news, CEO Kevin Michael O’neill sold 15,609 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $77.32, for a total transaction of $1,206,887.88. Following the completion of the transaction, the chief executive officer now directly owns 24,025 shares of the company’s stock, valued at approximately $1,857,613. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.21% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on GEHC. Morgan Stanley started coverage on GE HealthCare Technologies in a report on Tuesday, June 27th. They set an “equal weight” rating on the stock. Argus began coverage on shares of GE HealthCare Technologies in a research note on Friday, August 25th. They set a “buy” rating and a $80.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of GE HealthCare Technologies in a research note on Wednesday, August 16th. They issued an “overweight” rating and a $90.00 price target for the company. Citigroup began coverage on shares of GE HealthCare Technologies in a research report on Tuesday, September 19th. They set a “buy” rating and a $82.00 price target on the stock. Finally, Bank of America assumed coverage on GE HealthCare Technologies in a research report on Monday, July 31st. They issued a “neutral” rating and a $82.00 price objective for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.44.
Get Our Latest Research Report on GEHC
About GE HealthCare Technologies
(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, Europe, the Middle East, Africa, China, Taiwan, Mongolia, Hong Kong, and internationally.
Further Reading
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