National Pension Service Acquires 99,696 Shares of GE HealthCare Technologies Inc. $GEHC

by · The Markets Daily

National Pension Service raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 862,154 shares of the company’s stock after acquiring an additional 99,696 shares during the quarter. National Pension Service’s holdings in GE HealthCare Technologies were worth $55,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of GE HealthCare Technologies by 5,693.1% in the 2nd quarter. California State Teachers Retirement System now owns 40,913,912 shares of the company’s stock worth $2,618,900,000 after purchasing an additional 40,207,660 shares in the last quarter. Auto Owners Insurance Co lifted its position in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Norges Bank bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $596,024,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $533,655,000. Finally, Cynosure Group LLC increased its position in GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock worth $358,055,000 after buying an additional 4,344,817 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GEHC. BTIG Research reaffirmed a “buy” rating and issued a $79.00 price objective on shares of GE HealthCare Technologies in a research note on Wednesday, August 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Zacks Research upgraded shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Hovde Group started coverage on shares of GE HealthCare Technologies in a report on Friday, July 17th. They set a “market perform” rating and a $14.00 price target on the stock. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.73.

View Our Latest Stock Analysis on GE HealthCare Technologies

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $63.93 on Friday. The company has a market cap of $28.88 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.69 and a beta of 0.70. The firm’s fifty day moving average is $68.37 and its 200 day moving average is $68.43. 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.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were 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 was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

GE HealthCare Technologies Profile

(Free Report)

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company’s Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

See Also

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