Saudi Central Bank Purchases 15,126 Shares of GE HealthCare Technologies Inc. $GEHC

Saudi Central Bank lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 90.0% in the second quarter, HoldingsChannel.com reports. The firm owned 31,940 shares of the company’s stock after purchasing an additional 15,126 shares during the period. Saudi Central Bank’s holdings in GE HealthCare Technologies were worth $2,044,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GEHC. NBH Bank purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at approximately $26,000. AlphaGrep UK Ltd lifted its stake in shares of GE HealthCare Technologies by 14.8% in the 2nd quarter. AlphaGrep UK Ltd now owns 4,798 shares of the company’s stock valued at $307,000 after purchasing an additional 617 shares during the period. TD Waterhouse Canada Inc. lifted its position in GE HealthCare Technologies by 9.5% during the second quarter. TD Waterhouse Canada Inc. now owns 579,138 shares of the company’s stock valued at $37,590,000 after buying an additional 50,318 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of GE HealthCare Technologies by 15.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,570 shares of the company’s stock worth $677,000 after buying an additional 1,391 shares during the period. Finally, NEOS Investment Management LLC increased its stake in shares of GE HealthCare Technologies by 21.2% in the 2nd quarter. NEOS Investment Management LLC now owns 375,920 shares of the company’s stock worth $24,063,000 after acquiring an additional 65,678 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $79.00 target price on shares of GE HealthCare Technologies in a research note on Wednesday, August 19th. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. The Goldman Sachs Group reissued a “neutral” rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. UBS Group raised their price objective on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, BMO Capital Markets started coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.73.

GE HealthCare Technologies Price Performance

GEHC stock opened at $68.86 on Tuesday. 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’s fifty day moving average price is $68.36 and its 200-day moving average price is $68.84. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company has a market capitalization of $31.10 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.21%.

About GE HealthCare Technologies

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.