Corient Private Wealth LP Has $3.30 Million Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Corient Private Wealth reduced its GE HealthCare position by 29% in the second quarter, selling 21,101 shares and retaining 51,593 shares valued at approximately $3.30 million. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment is mixed: ten analysts rate GE HealthCare a Buy and eleven rate it a Hold, producing an average “Hold” rating and a consensus price target of $77.73.
• GE HealthCare exceeded quarterly expectations with $1.13 in EPS versus the $1.04 consensus and $5.29 billion in revenue, up 5.8% year over year. The company also pays a quarterly dividend of $0.035 per share, equivalent to a 0.2% annual yield.

Corient Private Wealth LP decreased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 29.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,593 shares of the company's stock after selling 21,101 shares during the quarter. Corient Private Wealth LP's holdings in GE HealthCare Technologies were worth $3,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock worth $2,080,248,000 after purchasing an additional 389,796 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 12,112,503 shares of the company's stock valued at $989,673,000 after buying an additional 37,159 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock valued at $861,307,000 after purchasing an additional 1,571,226 shares during the period. Norges Bank bought a new position in GE HealthCare Technologies during the fourth quarter worth about $596,024,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of GE HealthCare Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company's stock worth $384,219,000 after purchasing an additional 105,995 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GEHC shares. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Piper Sandler reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "hold (c-)" rating on shares of GE HealthCare Technologies in a research note on Wednesday, August 12th. Royal Bank Of Canada started coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 target price on the stock. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Hold" and an average price target of $77.73.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $64.13 on Monday. The stock has a market cap of $28.97 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The firm has a 50 day moving average price of $68.30 and a two-hundred day moving average price of $67.64.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion for 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%.The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company's Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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