9,886 Shares in GE HealthCare Technologies Inc. $GEHC Purchased by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,886 shares of the company’s stock, valued at approximately $646,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEHC. Trian Fund Management L.P. lifted its holdings in GE HealthCare Technologies by 76,194.4% during the second quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock valued at $197,493,000 after purchasing an additional 3,081,300 shares in the last quarter. Mizuho Markets Cayman LP increased its stake in shares of GE HealthCare Technologies by 173.2% during the first quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock worth $218,416,000 after purchasing an additional 1,945,500 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after purchasing an additional 1,571,226 shares in the last quarter. Amundi increased its stake in shares of GE HealthCare Technologies by 129.9% during the second quarter. Amundi now owns 2,500,094 shares of the company’s stock worth $160,031,000 after purchasing an additional 1,412,453 shares in the last quarter. Finally, Perpetual Ltd raised its position in shares of GE HealthCare Technologies by 107.4% during the 3rd quarter. Perpetual Ltd now owns 2,712,232 shares of the company’s stock worth $177,299,000 after purchasing an additional 1,404,683 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $82.38 on Monday. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The firm has a market capitalization of $37.25 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.07 and a beta of 0.64. The company has a fifty day simple moving average of $69.32 and a 200-day simple moving average of $70.05. The company has a quick ratio of 1.01, a current ratio of 1.30 and a debt-to-equity ratio of 0.86.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.14. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.35 billion. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.07 earnings per share. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 5.02 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.16 annualized dividend and a yield of 0.2%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s dividend payout ratio is currently 3.38%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GEHC. Piper Sandler reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada boosted their price objective on GE HealthCare Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Wolfe Research initiated coverage on GE HealthCare Technologies in a report on Tuesday, October 20th. They set a “peer perform” rating for the company. Finally, UBS Group raised their target price on GE HealthCare Technologies from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $80.87.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings.

The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.

GE HealthCare became an independent publicly traded company in January 2023 through its separation from General Electric.