9,886 Shares in GE HealthCare Technologies Inc. $GEHC Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 9,886 shares of the company’s stock, valued at approximately $646,000.

Several other large investors also recently added to or reduced their stakes in GEHC. State Street Corp increased its stake in shares of GE HealthCare Technologies by 1.6% in the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock worth $1,335,349,000 after acquiring an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after acquiring an additional 1,571,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GE HealthCare Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after acquiring an additional 105,995 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of GE HealthCare Technologies by 4.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock valued at $286,933,000 after acquiring an additional 177,028 shares during the last quarter. Finally, Trian Fund Management L.P. boosted its position in shares of GE HealthCare Technologies by 76,194.4% during the 2nd quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock valued at $197,493,000 after acquiring an additional 3,081,300 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of analyst reports. Hovde Group began coverage on shares of GE HealthCare Technologies in a report on Friday, July 17th. They issued a “market perform” rating and a $14.00 price objective for the company. BTIG Research lifted their target price on shares of GE HealthCare Technologies from $75.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. Wolfe Research initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, October 20th. They set a “peer perform” rating on the stock. Bank of America reiterated a “neutral” rating on shares of GE HealthCare Technologies in a report on Thursday, October 29th. Finally, Wells Fargo & Company increased their price target on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.87.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $82.38 on Monday. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The stock’s fifty day moving average is $69.32 and its two-hundred day moving average is $70.05. The company has a market capitalization of $37.25 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.07 and a beta of 0.64. The company has a quick ratio of 1.01, a current ratio of 1.30 and a debt-to-equity ratio of 0.86.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. The business had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.35 billion. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. Equities analysts expect that GE HealthCare Technologies Inc. will post 5.02 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is currently 3.38%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings.

The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.

GE HealthCare became an independent publicly traded company in January 2023 through its separation from General Electric.