Kimelman & Baird LLC Invests $272,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Kimelman & Baird LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,486 shares of the company’s stock, valued at approximately $272,000.

A number of other large investors have also recently modified their holdings of GEHC. Capital Research Global Investors increased its position in GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after purchasing an additional 2,647,204 shares during the period. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after buying an additional 4,107,746 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in 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 buying an additional 550,612 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after acquiring an additional 189,956 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Activity

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 of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group lowered shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. began coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.08.

GE HealthCare Technologies Trading Up 2.0 %

GE HealthCare Technologies stock opened at $93.85 on Tuesday. The stock has a 50-day moving average price of $85.39 and a 200 day moving average price of $83.26. The company has a market capitalization of $42.84 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.55. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion during 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 quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. Sell-side analysts anticipate 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. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. GE HealthCare Technologies’s payout ratio is currently 3.51%.

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.