Arete Wealth Advisors LLC Buys New Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Arete Wealth Advisors acquired 14,713 GE HealthCare shares worth approximately $942,000 during the second quarter. Institutional investors and hedge funds collectively own 82.06% of the company.
• GE HealthCare reported quarterly earnings of $1.13 per share, exceeding estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $77.73, compared with the stock’s reported opening price of $74.82. The company also pays a quarterly dividend of $0.035 per share.

Arete Wealth Advisors LLC purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,713 shares of the company's stock, valued at approximately $942,000.

A number of other large investors have also made changes to their positions in the business. Laurel Wealth Advisors LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $26,000. Godfrey Financial Associates Inc. acquired a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $27,000. Montag A & Associates Inc. boosted its stake in GE HealthCare Technologies by 105.4% in the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC grew its position in GE HealthCare Technologies by 331.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its stake in GE HealthCare Technologies by 60.4% during the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 163 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

GEHC opened at $74.82 on Monday. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The company has a fifty day moving average of $66.61 and a two-hundred day moving average of $69.53. The stock has a market capitalization of $33.80 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.16 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.GE HealthCare Technologies's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets started coverage on GE HealthCare Technologies in a research note on Wednesday, July 8th. They issued a "market perform" rating and a $70.00 target price for the company. Argus cut their price objective on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Rothschild & Co Redburn reduced their price objective on GE HealthCare Technologies from $110.00 to $98.00 in a research note on Thursday, April 30th. Evercore reiterated an "outperform" rating and issued a $84.00 target price on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Finally, UBS Group increased their price target on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $77.73.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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