GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,807 shares of the company’s stock after acquiring an additional 246 shares during the period. Wedmont Private Capital’s holdings in GE HealthCare Technologies were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GEHC. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after buying an additional 4,107,746 shares in the last quarter. Norges Bank purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth $229,052,000. Capital Research Global Investors grew its stake in shares of 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 worth $4,908,406,000 after purchasing an additional 2,647,204 shares during the period. Perpetual Ltd purchased a new position in shares of GE HealthCare Technologies in the 1st quarter valued at about $96,135,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of GE HealthCare Technologies by 4,959.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after purchasing an additional 743,523 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GEHC shares. Bank of America cut their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective for the company. Mizuho reduced their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.58.

Insider Activity

In other news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jan Makela sold 66,955 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the sale, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at $5,165,395.92. The disclosure for this sale can be found here. Insiders sold 73,005 shares of company stock worth $5,941,366 over the last three months. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $1.80 during midday trading on Tuesday, reaching $84.17. 1,764,035 shares of the company traded hands, compared to its average volume of 3,094,654. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.83. The company has a fifty day moving average price of $79.30 and a 200 day moving average price of $82.85. The firm has a market capitalization of $38.42 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 3.00 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 the consensus estimate 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 firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. GE HealthCare Technologies’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio is currently 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.