HighVista Strategies LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

HighVista Strategies LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,100 shares of the company’s stock, valued at approximately $1,255,000.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in GE HealthCare Technologies during the first quarter valued at $25,000. BNP Paribas bought a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at about $30,000. Rise Advisors LLC grew its stake in GE HealthCare Technologies by 241.4% during the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after purchasing an additional 239 shares during the period. Riverview Trust Co bought a new stake in GE HealthCare Technologies in the first quarter worth approximately $31,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in GE HealthCare Technologies in the second quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal 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 Trading Down 0.4 %

Shares of GE HealthCare Technologies stock opened at $90.28 on Monday. The company’s 50-day moving average price is $84.06 and its 200-day moving average price is $83.21. The company 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 12-month low of $62.35 and a 12-month high of $94.50. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.88 billion. During the same period in the previous year, the business earned $0.92 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

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

GE HealthCare Technologies Company 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.