Stoneridge Investment Partners LLC Makes New Investment in GE HealthCare Technologies Inc. $GEHC

Stoneridge Investment Partners LLC acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 2nd quarter, Holdings Channel reports. The fund acquired 10,632 shares of the company’s stock, valued at approximately $723,000.

Several other large investors have also modified their holdings of GEHC. Laurel Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at $26,000. Godfrey Financial Associates Inc. purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $27,000. Montag A & Associates Inc. increased its position in shares of GE HealthCare Technologies by 105.4% during the fourth quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC increased its position in shares of GE HealthCare Technologies by 331.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares in the last quarter. Finally, Physician Wealth Advisors Inc. lifted its holdings in shares of GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 163 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $73.69 on Friday. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.69. The firm has a 50-day simple moving average of $65.72 and a 200-day simple moving average of $69.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.06 earnings per share. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.21%.

Insider Buying and Selling at GE HealthCare Technologies

In related news, Director Kevin Lobo bought 10,000 shares of the stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the purchase, the director owned 14,363 shares of the company’s stock, valued at $921,817.34. This trade represents a 229.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of research analyst reports. Oppenheimer reissued an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Argus reduced their price objective on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. HSBC decreased their price objective on GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Finally, Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Company 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.