Stoneridge Investment Partners LLC Buys Shares of 10,632 GE HealthCare Technologies Inc. $GEHC

Stoneridge Investment Partners LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,632 shares of the company’s stock, valued at approximately $723,000.

A number of other institutional investors have also made changes to their positions in the stock. Auto Owners Insurance Co lifted its holdings in shares of GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after acquiring an additional 33,629,559 shares during the last quarter. Norges Bank acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $596,024,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $533,655,000. Cynosure Group LLC raised its position in GE HealthCare Technologies by 21,045.4% in the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock valued at $358,055,000 after purchasing an additional 4,344,817 shares during the period. Finally, Boston Partners purchased a new stake in GE HealthCare Technologies in the third quarter valued at approximately $287,627,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Down 0.1%

Shares of NASDAQ:GEHC opened at $73.69 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The company’s 50 day moving average is $65.72 and its two-hundred day moving average is $69.80. 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 company has a market cap of $33.28 billion, a PE ratio of 16.90, a P/E/G ratio of 2.13 and a beta of 0.69.

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. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $1.06 EPS. Equities analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were paid a $0.035 dividend. 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 dividend payout ratio (DPR) is currently 3.21%.

Insiders Place Their Bets

In other GE HealthCare Technologies news, Director Kevin Lobo purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $64.18 per share, with a total value of $641,800.00. Following the acquisition, the director directly owned 14,363 shares of the company’s stock, valued at approximately $921,817.34. This represents a 229.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GEHC shares. Argus lowered their price target on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. HSBC cut their price objective on GE HealthCare Technologies from $100.00 to $90.00 in a report on Thursday, April 30th. Evercore restated an “outperform” rating and set a $84.00 target price on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Royal Bank Of Canada started coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Zacks Research upgraded shares of GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.