Pzena Investment Management LLC Makes New $82.08 Million Investment in GE HealthCare Technologies Inc. $GEHC

Pzena Investment Management LLC bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,255,691 shares of the company’s stock, valued at approximately $82,085,000. Pzena Investment Management LLC owned 0.28% of GE HealthCare Technologies as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rakuten Investment Management Inc. grew its stake in shares of GE HealthCare Technologies by 9.9% in the 3rd quarter. Rakuten Investment Management Inc. now owns 121,395 shares of the company’s stock valued at $8,068,000 after buying an additional 10,897 shares during the period. Provenance Wealth Advisors LLC increased its position in GE HealthCare Technologies by 401.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 491 shares of the company’s stock valued at $32,000 after buying an additional 393 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in GE HealthCare Technologies in the 3rd quarter valued at about $21,123,000. ProShare Advisors LLC raised its stake in GE HealthCare Technologies by 2.8% during the 3rd quarter. ProShare Advisors LLC now owns 518,028 shares of the company’s stock worth $33,863,000 after buying an additional 14,052 shares during the period. Finally, Vise Technologies Inc. raised its stake in GE HealthCare Technologies by 2.3% during the 3rd quarter. Vise Technologies Inc. now owns 10,807 shares of the company’s stock worth $706,000 after buying an additional 243 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

GEHC opened at $85.81 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01. The company has a market capitalization of $38.80 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 2.03 and a beta of 0.65. The firm’s fifty day moving average price is $68.91 and its two-hundred day moving average price is $70.03. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 28th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.35 billion. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 5.02 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.2%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies’s dividend payout ratio is presently 3.38%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on GE HealthCare Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Piper Sandler restated a “buy” rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. UBS Group upped their target price on GE HealthCare Technologies from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Bank of America reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research report on Thursday, October 29th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $80.87.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.