Cyrus J. Lawrence LLC Takes $6.45 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cyrus J. Lawrence LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 82,800 shares of the company’s stock, valued at approximately $6,451,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEHC. Capital Research Global Investors lifted its position in GE HealthCare Technologies by 5.2% during the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after buying an additional 2,647,204 shares during the period. Vanguard Group Inc. lifted its position 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 valued at $4,410,893,000 after acquiring an additional 4,107,746 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in GE HealthCare Technologies by 9.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after acquiring an additional 471,910 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $145,021,000 after purchasing an additional 550,612 shares during the period. Finally, Perpetual Ltd bought a new position in shares of GE HealthCare Technologies during the first quarter valued at approximately $96,135,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $90.28 on Monday. 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 company has a 50 day moving average price of $84.06 and a 200-day moving average price of $83.21. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The firm has a market capitalization of $41.21 billion, a PE ratio of 26.40, a P/E/G ratio of 3.26 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.92 EPS. As a group, 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 disclosed 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 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GEHC shares. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research 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 note on Tuesday, August 6th. They set a “buy” rating and a $100.00 price objective for the company. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

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.