Platinum Investment Management Ltd. purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 291,893 shares of the company’s stock, valued at approximately $23,713,000. GE HealthCare Technologies makes up approximately 0.8% of Platinum Investment Management Ltd.’s holdings, making the stock its 27th biggest holding.
Several other institutional investors have also bought and sold shares of the stock. Meitav Investment House Ltd. bought a new position in GE HealthCare Technologies in the 2nd quarter valued at $113,000. Center for Financial Planning Inc. purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at $26,000. Aspire Private Capital LLC purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at $26,000. Larson Financial Group LLC purchased a new stake in GE HealthCare Technologies during the 2nd quarter worth about $27,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in GE HealthCare Technologies during the 2nd quarter worth about $28,000. Institutional investors own 79.18% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GEHC. Wells Fargo & Company began coverage on GE HealthCare Technologies in a report on Wednesday, August 16th. They set an “overweight” rating and a $90.00 price objective on the stock. Bank of America started coverage on GE HealthCare Technologies in a report on Monday, July 31st. They set a “neutral” rating and a $82.00 price objective on the stock. Citigroup started coverage on GE HealthCare Technologies in a report on Tuesday, September 19th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Argus started coverage on GE HealthCare Technologies in a report on Friday, August 25th. They issued a “buy” rating and a $80.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $88.44.
GE HealthCare Technologies Stock Performance
GEHC remained flat at $73.33 on Tuesday. The company had a trading volume of 305,082 shares, compared to its average volume of 3,013,896. The company has a market capitalization of $33.38 billion and a PE ratio of 21.82. GE HealthCare Technologies Inc. has a fifty-two week low of $53.00 and a fifty-two week high of $87.83. The stock’s 50 day moving average price is $67.44 and its two-hundred day moving average price is $73.23. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 1.44.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a return on equity of 24.46% and a net margin of 8.91%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.87 EPS. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 3.81 earnings per share for the current year.
GE HealthCare Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 20th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 19th. GE HealthCare Technologies’s payout ratio is presently 3.57%.
GE HealthCare Technologies Company 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.
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