GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Denali Advisors LLC

Denali Advisors LLC lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Denali Advisors LLC’s holdings in GE HealthCare Technologies were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GEHC. Capital Research Global Investors raised its stake in shares of GE HealthCare Technologies by 5.2% during 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 period. Vanguard Group Inc. increased its stake 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 worth $4,410,893,000 after buying an additional 4,107,746 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of 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 valued at $426,186,000 after acquiring an additional 471,910 shares during the last quarter. Norges Bank purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $229,052,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 acquiring an additional 550,612 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $86.79 on Wednesday. The company’s 50-day moving average is $83.26 and its two-hundred day moving average is $83.31. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82. The firm has a market capitalization of $39.62 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 3.26 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. Analysts forecast that GE HealthCare Technologies Inc. will post 4.26 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s payout ratio is 3.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. 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. Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price target on the stock. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.58.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.27% of the stock is owned by insiders.

About GE HealthCare Technologies

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.