AdvisorNet Financial Inc Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

AdvisorNet Financial Inc lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.5% during the 2nd quarter, Holdings Channel reports. The firm owned 24,040 shares of the company’s stock after acquiring an additional 2,080 shares during the period. AdvisorNet Financial Inc’s holdings in GE HealthCare Technologies were worth $1,873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of GE HealthCare Technologies by 6.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,828 shares of the company’s stock worth $605,000 after purchasing an additional 499 shares during the last quarter. Cerity Partners LLC lifted its stake in GE HealthCare Technologies by 27.2% during the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after acquiring an additional 9,809 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Perigon Wealth Management LLC now owns 7,160 shares of the company’s stock valued at $554,000 after acquiring an additional 293 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth approximately $4,794,000. Finally, Strs Ohio raised its holdings in shares of GE HealthCare Technologies by 14.6% during the fourth quarter. Strs Ohio now owns 159,174 shares of the company’s stock valued at $12,307,000 after purchasing an additional 20,333 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research reports. The Goldman Sachs Group began coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective on the stock. Stifel Nicolaus assumed coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective for the company. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Bank of America reduced their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho dropped their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Five 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’s stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average price target of $94.58.

GE HealthCare Technologies Trading Up 2.3 %

Shares of GEHC traded up $1.93 during midday trading on Thursday, reaching $85.40. The company had a trading volume of 1,040,431 shares, compared to its average volume of 3,074,003. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a 50 day simple moving average of $79.57 and a 200-day simple moving average of $82.93. The stock has a market cap of $38.98 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.51%.

Insider Activity at GE HealthCare Technologies

In related news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares in the company, valued at approximately $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares in the company, valued at $5,296,510. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate 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.