Spinnaker Trust Has $4.74 Million Position in GE HealthCare Technologies Inc. $GEHC

Spinnaker Trust boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 60.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,005 shares of the company’s stock after acquiring an additional 27,772 shares during the period. Spinnaker Trust’s holdings in GE HealthCare Technologies were worth $4,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GEHC. Laurel Wealth Advisors LLC bought a new position in GE HealthCare Technologies during the fourth quarter worth $26,000. Godfrey Financial Associates Inc. bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at about $27,000. Montag A & Associates Inc. lifted its stake in shares of GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company’s stock worth $28,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC lifted its stake in shares of GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock worth $28,000 after buying an additional 262 shares during the last quarter. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock worth $31,000 after buying an additional 163 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 1.0%

GEHC stock opened at $71.72 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The company has a market capitalization of $32.40 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69. The company’s 50-day simple moving average is $67.67 and its 200 day simple moving average is $69.33. 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 issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEHC shares. Citigroup upped their price target on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Argus decreased their target price on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Oppenheimer reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Finally, UBS Group increased their target price on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Hold” and an average price target of $77.73.

About GE HealthCare Technologies

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.