GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,905 shares of the company’s stock after acquiring an additional 1,525 shares during the period. Elo Mutual Pension Insurance Co’s holdings in GE HealthCare Technologies were worth $3,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. Pathway Financial Advisers LLC purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $25,000. BNP Paribas purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth about $30,000. Sachetta LLC acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth approximately $31,000. Rise Advisors LLC boosted its position in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in GE HealthCare Technologies in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

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

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $90.62 on Friday. 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 Inc. has a one year low of $62.35 and a one year high of $94.50. The stock’s 50 day moving average price is $83.64 and its 200 day moving average price is $83.31. The firm has a market capitalization of $41.36 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted 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. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS 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. Stockholders of record on Friday, July 19th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s payout ratio is 3.51%.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’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 sale, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

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.