Kowal Investment Group LLC Makes New $230,000 Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kowal Investment Group LLC acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,528 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEHC. Vanguard Group Inc. grew its position in GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Norges Bank acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $229,052,000. Capital Research Global Investors lifted its stake in shares of GE HealthCare Technologies by 2.8% in the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after acquiring an additional 1,401,566 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after acquiring an additional 1,221,436 shares during the period. Finally, Perpetual Ltd acquired a new stake in shares of GE HealthCare Technologies in the 1st quarter worth $96,135,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GE HealthCare Technologies

In other news, insider Frank R. Jimenez purchased 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jimenez purchased 1,315 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the transaction, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $76.26 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The stock has a market cap of $34.81 billion, a P/E ratio of 22.30, a PEG ratio of 2.80 and a beta of 1.20. The company has a 50-day moving average of $79.69 and a two-hundred day moving average of $81.85. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Wall Street Analysts Forecast Growth

GEHC has been the subject of several recent analyst reports. Bank of America reduced their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Argus raised their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Mizuho reduced their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.09.

About GE HealthCare Technologies

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, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.