Ensign Peak Advisors Inc Raises Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ensign Peak Advisors Inc boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 30.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,895 shares of the company’s stock after acquiring an additional 27,363 shares during the quarter. Ensign Peak Advisors Inc’s holdings in GE HealthCare Technologies were worth $9,031,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GEHC. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies during the first quarter worth $25,000. BNP Paribas purchased a new stake in shares of GE HealthCare Technologies during the 1st quarter worth about $30,000. Rise Advisors LLC grew its position in shares of GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after acquiring an additional 239 shares during the period. Riverview Trust Co purchased a new position in shares of GE HealthCare Technologies in the 1st quarter valued at about $31,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in GE HealthCare Technologies in the 2nd quarter worth about $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, 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 SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $92.21 on Wednesday. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50. The firm has a market capitalization of $42.09 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17. 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 business has a 50 day simple moving average of $84.46 and a 200-day simple moving average of $83.19.

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 analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced 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 yield of 0.13%. GE HealthCare Technologies’s payout ratio is 3.51%.

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.