GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 25.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,260 shares of the company’s stock after purchasing an additional 851 shares during the period. Summit Trail Advisors LLC’s holdings in GE HealthCare Technologies were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors lifted its stake in 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 acquiring an additional 2,647,204 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% during the first 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. Hotchkis & Wiley Capital Management LLC increased its holdings in GE HealthCare Technologies by 9.4% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after buying an additional 471,910 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in GE HealthCare Technologies by 41.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,875,589 shares of the company’s stock valued at $145,021,000 after buying an additional 550,612 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in GE HealthCare Technologies during the 1st quarter worth about $96,135,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GEHC shares. JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 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 for the company in a report on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target for the company. Six research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $90.88 on Tuesday. The business’s 50-day moving average price is $84.27 and its 200 day moving average price is $83.20. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a market cap of $41.48 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

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.