Jupiter Topco LLC Buys New Position in GE HealthCare Technologies Inc. $GEHC

Jupiter Topco LLC purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 59,714 shares of the company’s stock, valued at approximately $3,821,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Godfrey Financial Associates Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $27,000. Montag A & Associates Inc. lifted 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 boosted its stake in shares of GE HealthCare Technologies by 331.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company’s stock valued at $28,000 after purchasing an additional 262 shares during the period. MV Capital Management Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $33,000. Finally, Zions Bancorporation National Association UT grew its holdings in GE HealthCare Technologies by 125.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 412 shares of the company’s stock valued at $34,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. The Goldman Sachs Group restated a “neutral” rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Trading Down 1.1%

GE HealthCare Technologies stock opened at $70.42 on Wednesday. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77. The firm’s 50-day moving average is $68.02 and its 200-day moving average is $69.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The company has a market cap of $31.81 billion, a P/E ratio of 16.15, a PEG ratio of 1.88 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities analysts expect 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. Investors of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is currently 3.21%.

GE HealthCare Technologies 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.