Sound Shore Management Inc. CT Boosts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sound Shore Management Inc. CT boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 31.4% in the second quarter, Holdings Channel reports. The institutional investor owned 966,657 shares of the company’s stock after purchasing an additional 230,906 shares during the period. GE HealthCare Technologies accounts for approximately 2.5% of Sound Shore Management Inc. CT’s portfolio, making the stock its 24th biggest position. Sound Shore Management Inc. CT’s holdings in GE HealthCare Technologies were worth $75,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in GE HealthCare Technologies by 9.2% in 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. Capital Research Global Investors lifted its stake in shares of GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after buying an additional 2,647,204 shares in the last quarter. Perpetual Ltd bought a new position in shares of GE HealthCare Technologies in the first quarter worth approximately $96,135,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of GE HealthCare Technologies by 4,959.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after buying an additional 743,523 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of 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 valued at $145,021,000 after acquiring an additional 550,612 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 target price on the stock. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price for the company. Stifel Nicolaus assumed coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price target on the stock. Finally, BTIG Research raised shares of 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. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Stock Down 0.4 %

Shares of GEHC stock opened at $90.28 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The stock has a market cap of $41.21 billion, a P/E ratio of 26.40, a P/E/G ratio of 3.26 and a beta of 1.17. The company has a 50 day simple moving average of $83.86 and a two-hundred day simple moving average of $83.36.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data 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 return on equity of 25.26% and a net margin of 8.10%. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same period in the prior year, the business posted $0.92 EPS. GE HealthCare Technologies’s revenue was up .5% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share 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. Stockholders of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date 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%.

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.