GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,041 shares of the company’s stock after purchasing an additional 180 shares during the period. HB Wealth Management LLC’s holdings in GE HealthCare Technologies were worth $458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after acquiring an additional 5,693,244 shares during the last quarter. Norges Bank bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $229,052,000. Capital Research Global Investors grew its stake in GE HealthCare Technologies by 2.8% in the fourth quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after purchasing an additional 1,401,566 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after buying an additional 1,221,436 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in GE HealthCare Technologies during the first quarter valued at approximately $96,135,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GEHC stock traded down $0.32 during trading on Friday, reaching $76.92. 627,927 shares of the company’s stock were exchanged, compared to its average volume of 3,152,806. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The firm has a market cap of $35.11 billion, a PE ratio of 22.58, a P/E/G ratio of 2.78 and a beta of 1.20. The company’s fifty day moving average price is $79.13 and its 200-day moving average price is $81.80. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. GE HealthCare Technologies’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price for the company. Citigroup raised their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI increased their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Argus lifted their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Mizuho dropped their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Insider Activity

In other GE HealthCare Technologies news, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jimenez bought 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now directly owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

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.