Sound Shore Management Inc. CT Buys 230,906 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sound Shore Management Inc. CT raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 31.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 966,657 shares of the company’s stock after buying an additional 230,906 shares during the quarter. GE HealthCare Technologies comprises 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 24th largest holding. Sound Shore Management Inc. CT owned approximately 0.21% of GE HealthCare Technologies worth $75,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors increased its stake in GE HealthCare Technologies by 5.2% in the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares during the last quarter. Vanguard Group Inc. raised its stake in GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in GE HealthCare Technologies by 9.4% during the fourth 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 during the last quarter. Goldman Sachs Group Inc. grew its stake in GE HealthCare Technologies by 41.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock worth $145,021,000 after buying an additional 550,612 shares in the last quarter. Finally, Perpetual Ltd bought a new position in shares of GE HealthCare Technologies in the 1st quarter worth $96,135,000. 82.06% of the stock is currently owned by institutional investors.

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 transaction, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

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

GE HealthCare Technologies Stock Down 0.4 %

NASDAQ GEHC opened at $90.28 on Friday. The business’s 50-day moving average is $83.86 and its 200 day moving average is $83.36. The stock has a market capitalization of $41.21 billion, a PE 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 current ratio of 1.06 and a quick ratio of 0.82. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

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 issued a $0.03 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.13%. GE HealthCare Technologies’s dividend payout ratio (DPR) 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.