Granite Bay Wealth Management LLC Makes New $534,000 Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Granite Bay Wealth Management LLC purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,468 shares of the company’s stock, valued at approximately $534,000.

A number of other large investors have also bought and sold shares of the stock. 9258 Wealth Management LLC grew its holdings in shares of GE HealthCare Technologies by 5.7% during the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock valued at $253,000 after buying an additional 176 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of GE HealthCare Technologies by 29.4% during the fourth quarter. Bank of Nova Scotia now owns 48,847 shares of the company’s stock valued at $3,777,000 after buying an additional 11,103 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of GE HealthCare Technologies by 3.3% during the fourth quarter. California State Teachers Retirement System now owns 667,316 shares of the company’s stock valued at $51,597,000 after buying an additional 21,461 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of GE HealthCare Technologies by 41.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 483,822 shares of the company’s stock valued at $37,409,000 after buying an additional 142,053 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of GE HealthCare Technologies by 0.5% during the fourth quarter. CIBC Asset Management Inc now owns 118,162 shares of the company’s stock valued at $9,136,000 after buying an additional 640 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $91.67 on Wednesday. The firm has a market cap of $41.84 billion, a price-to-earnings ratio of 26.80, 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 52 week low of $62.35 and a 52 week high of $94.55. The firm’s 50-day simple moving average is $85.60 and its two-hundred day simple moving average is $83.28.

GE HealthCare Technologies (NASDAQ:GEHC) last announced 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 net margin of 8.10% and a return on equity of 25.26%. 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 firm posted $0.92 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given 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 currently 3.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GEHC. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, September 18th. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average target price of $94.23.

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.