MQS Management LLC Buys Shares of 3,266 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

MQS Management LLC purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,266 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also made changes to their positions in GEHC. MRP Capital Investments LLC raised its stake in GE HealthCare Technologies by 3.1% in the 2nd quarter. MRP Capital Investments LLC now owns 6,952 shares of the company’s stock valued at $542,000 after purchasing an additional 210 shares during the last quarter. Mathes Company Inc. grew its holdings in shares of GE HealthCare Technologies by 9.3% during the second quarter. Mathes Company Inc. now owns 16,586 shares of the company’s stock worth $1,292,000 after buying an additional 1,416 shares in the last quarter. Kentucky Retirement Systems raised its position in shares of GE HealthCare Technologies by 3.9% in the second quarter. Kentucky Retirement Systems now owns 31,990 shares of the company’s stock valued at $2,493,000 after buying an additional 1,213 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of GE HealthCare Technologies by 17.1% during the second quarter. Hsbc Holdings PLC now owns 752,488 shares of the company’s stock valued at $58,720,000 after buying an additional 109,951 shares during the period. Finally, First Washington CORP lifted its stake in shares of GE HealthCare Technologies by 29.4% during the second quarter. First Washington CORP now owns 89,122 shares of the company’s stock valued at $6,944,000 after buying an additional 20,250 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday. Stifel Nicolaus began coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Redburn Atlantic raised shares of 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

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 dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 0.4 %

NASDAQ GEHC opened at $90.28 on Friday. The firm has a market capitalization of $41.21 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 3.26 and a beta of 1.17. 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 company’s 50 day moving average price is $83.86 and its 200 day moving average price is $83.36.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its 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 business 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 firm posted $0.92 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid 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 is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is presently 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.