Quarry LP Grows Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Quarry LP raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 28.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 594 shares of the company’s stock after purchasing an additional 131 shares during the period. Quarry LP’s holdings in GE HealthCare Technologies were worth $46,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its position in GE HealthCare Technologies by 9.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,150 shares of the company’s stock valued at $636,000 after acquiring an additional 710 shares in the last quarter. NewEdge Advisors LLC grew its position in GE HealthCare Technologies by 5.6% in the second quarter. NewEdge Advisors LLC now owns 14,645 shares of the company’s stock valued at $1,141,000 after acquiring an additional 775 shares in the last quarter. Systematic Financial Management LP grew its position in shares of GE HealthCare Technologies by 254.8% during the second quarter. Systematic Financial Management LP now owns 29,432 shares of the company’s stock worth $2,293,000 after buying an additional 21,137 shares in the last quarter. Finally, Nemes Rush Group LLC grew its position in shares of GE HealthCare Technologies by 110.1% during the second quarter. Nemes Rush Group LLC now owns 500 shares of the company’s stock worth $39,000 after buying an additional 262 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 1.7 %

GEHC opened at $91.42 on Friday. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.55. The business has a 50-day moving average of $86.25 and a 200-day moving average of $83.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The company has a market capitalization of $41.73 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 3.40 and a beta of 1.18.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $4.88 billion. During the same period last year, the business earned $0.92 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued 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 of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group cut GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. BTIG Research upgraded shares of 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, September 18th. Finally, Stifel Nicolaus upped their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.23.

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the 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 transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by insiders.

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.