93,701 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 93,701 shares of the company’s stock, valued at approximately $7,612,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meitav Investment House Ltd. bought a new position in GE HealthCare Technologies in the second quarter valued at approximately $113,000. Center for Financial Planning Inc. bought a new position in GE HealthCare Technologies in the second quarter valued at approximately $26,000. Aspire Private Capital LLC bought a new position in GE HealthCare Technologies in the second quarter valued at approximately $26,000. Larson Financial Group LLC bought a new position in GE HealthCare Technologies in the second quarter valued at approximately $27,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in GE HealthCare Technologies in the second quarter valued at approximately $28,000. Institutional investors own 79.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEHC. Bank of America began coverage on shares of GE HealthCare Technologies in a research note on Monday, July 31st. They issued a “neutral” rating and a $82.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of GE HealthCare Technologies in a research report on Wednesday, August 16th. They issued an “overweight” rating and a $90.00 price objective on the stock. Citigroup assumed coverage on shares of GE HealthCare Technologies in a research report on Tuesday, September 19th. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Argus assumed coverage on shares of GE HealthCare Technologies in a research report on Friday, August 25th. They issued a “buy” rating and a $80.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.44.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $73.00 on Friday. The company has a market cap of $33.23 billion and a price-to-earnings ratio of 21.73. GE HealthCare Technologies Inc. has a 1-year low of $53.00 and a 1-year high of $87.83. The company’s fifty day simple moving average is $67.31 and its 200 day simple moving average is $73.31. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 1.44.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.89 by $0.10. GE HealthCare Technologies had a net margin of 8.91% and a return on equity of 24.46%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 3.81 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 20th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is currently 3.57%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, Europe, the Middle East, Africa, China, Taiwan, Mongolia, Hong Kong, and internationally.