NewEdge Advisors LLC Buys 441,257 Shares of GE HealthCare Technologies Inc. $GEHC

NewEdge Advisors LLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 50.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318,329 shares of the company’s stock after purchasing an additional 441,257 shares during the period. NewEdge Advisors LLC’s holdings in GE HealthCare Technologies were worth $84,386,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GEHC. Empowered Funds LLC raised its position in shares of GE HealthCare Technologies by 6.1% during the first quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock worth $2,328,000 after acquiring an additional 1,665 shares during the last quarter. Acadian Asset Management LLC bought a new position in GE HealthCare Technologies in the first quarter valued at about $259,000. Cresset Asset Management LLC increased its position in GE HealthCare Technologies by 12.5% in the second quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock worth $578,000 after purchasing an additional 865 shares during the period. Jump Financial LLC increased its position in GE HealthCare Technologies by 317.6% in the second quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock worth $2,084,000 after purchasing an additional 21,396 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in GE HealthCare Technologies by 8.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock worth $299,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $66.78 on Wednesday. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a market cap of $30.16 billion, a PE ratio of 15.32, a P/E/G ratio of 1.82 and a beta of 0.70. The business’s 50-day moving average price is $68.42 and its two-hundred day moving average price is $68.72.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. As a group, research analysts forecast 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. Investors of record on Friday, July 24th were paid 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 is presently 3.21%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price 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. Royal Bank Of Canada initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 price target for the company. Hovde Group started 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 on the stock. BMO Capital Markets assumed coverage on shares of GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Hold” and an average target price 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.