Meeder Advisory Services Inc. Boosts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Meeder Advisory Services Inc. grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 42.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,348 shares of the company’s stock after buying an additional 1,599 shares during the period. Meeder Advisory Services Inc.’s holdings in GE HealthCare Technologies were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors grew its stake in GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares during the period. Vanguard Group Inc. boosted its position in GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in GE HealthCare Technologies by 9.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after purchasing an additional 471,910 shares in the last quarter. Norges Bank purchased a new position in GE HealthCare Technologies in the fourth quarter valued at about $229,052,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of GE HealthCare Technologies by 41.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock worth $145,021,000 after purchasing an additional 550,612 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GEHC shares. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective for the company. Stifel Nicolaus began 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 on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price target for the company. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.58.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $86.91 on Monday. The firm has a market cap of $39.67 billion, a PE ratio of 25.41, a price-to-earnings-growth 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. The firm’s 50-day simple moving average is $83.05 and its 200-day simple moving average is $83.35. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter last year, the business posted $0.92 EPS. GE HealthCare Technologies’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) 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.