Ecofi Investissements SA Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Ecofi Investissements SA acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 49,600 shares of the company’s stock, valued at approximately $3,656,000. GE HealthCare Technologies comprises 2.0% of Ecofi Investissements SA’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 9.2% in 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. Capital Research Global Investors grew its position in shares of 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 buying an additional 2,647,204 shares during the last quarter. Perpetual Ltd bought a new position in shares of GE HealthCare Technologies during the 1st quarter worth approximately $96,135,000. Marshall Wace LLP purchased a new stake in GE HealthCare Technologies during the second quarter valued at approximately $63,639,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in 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 acquiring an additional 743,523 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 0.5 %

GEHC stock opened at $91.99 on Monday. The company has a market capitalization of $41.99 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.17. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.55. The firm’s fifty day simple moving average is $85.13 and its 200-day simple moving average is $83.22. 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly 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 accessible through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEHC. 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 target on the stock. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price objective for the company from $84.00 to $74.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.92.

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.