Mark Asset Management LP Buys Shares of 70,111 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mark Asset Management LP bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 70,111 shares of the company’s stock, valued at approximately $5,463,000.

Several other large investors have also modified their holdings of the business. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies in the first quarter valued at approximately $25,000. Fred Alger Management LLC purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $26,000. BNP Paribas purchased a new stake in shares of GE HealthCare Technologies in the first quarter valued at approximately $30,000. Rise Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after purchasing an additional 239 shares during the period. Finally, Riverview Trust Co purchased a new stake in GE HealthCare Technologies during the first quarter worth $31,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $92.49 on Friday. The business’s 50-day moving average is $84.90 and its two-hundred day moving average is $83.32. The company has a market capitalization of $42.22 billion, a P/E ratio of 27.04, a P/E/G ratio of 3.40 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results 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. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Research analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on GEHC shares. Stifel Nicolaus started coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They set a “buy” rating and a $100.00 target price for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They set a “neutral” rating and a $87.00 target price for the company. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $74.00 in a report on Thursday. Finally, BTIG Research upgraded 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.92.

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.