Concurrent Investment Advisors LLC Raises Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Concurrent Investment Advisors LLC increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.7% during the second quarter, HoldingsChannel.com reports. The firm owned 4,639 shares of the company’s stock after buying an additional 731 shares during the period. Concurrent Investment Advisors LLC’s holdings in GE HealthCare Technologies were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GEHC. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 4,107,746 shares in the last quarter. Norges Bank bought a new position in GE HealthCare Technologies in the 4th quarter worth about $229,052,000. 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. Perpetual Ltd bought a new position in GE HealthCare Technologies in the 1st quarter worth about $96,135,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in 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 worth $68,957,000 after acquiring an additional 743,523 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Down 0.0 %

Shares of GEHC stock opened at $84.80 on Wednesday. The stock has a market capitalization of $38.71 billion, a PE ratio of 24.80, a P/E/G ratio of 3.17 and a beta of 1.17. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The business has a 50-day moving average of $81.59 and a 200 day moving average of $83.47. 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 (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the business posted $0.92 EPS. The business’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of research analyst reports. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

GE HealthCare Technologies 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.