Cyrus J. Lawrence LLC Takes $6.45 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cyrus J. Lawrence LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 82,800 shares of the company’s stock, valued at approximately $6,451,000.

Other hedge funds also recently bought and sold shares of the company. Estabrook Capital Management boosted its holdings in GE HealthCare Technologies by 1.0% in the 2nd quarter. Estabrook Capital Management now owns 23,942 shares of the company’s stock valued at $1,866,000 after purchasing an additional 240 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of GE HealthCare Technologies by 8.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock worth $135,000 after buying an additional 127 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in shares of GE HealthCare Technologies by 29,990.0% in the second quarter. Frank Rimerman Advisors LLC now owns 3,009 shares of the company’s stock worth $234,000 after buying an additional 2,999 shares in the last quarter. Long Road Investment Counsel LLC boosted its stake in GE HealthCare Technologies by 12.0% during the second quarter. Long Road Investment Counsel LLC now owns 6,543 shares of the company’s stock valued at $510,000 after buying an additional 699 shares during the period. Finally, Hancock Whitney Corp increased its stake in GE HealthCare Technologies by 18.4% in the 2nd quarter. Hancock Whitney Corp now owns 20,825 shares of the company’s stock worth $1,623,000 after acquiring an additional 3,230 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC opened at $90.28 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $84.06 and its 200 day simple moving average is $83.21. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the business earned $0.92 earnings per share. The business’s revenue was up .5% on a year-over-year basis. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of research analyst reports. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by insiders.

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