GE HealthCare Technologies Inc. $GEHC Holdings Raised by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management increased its GE HealthCare stake by 49% in the third quarter, adding 21,700 shares to hold 66,009 shares valued at about $4.3 million. Institutional investors overall own 82.06% of the company.
• GE HealthCare reported quarterly results above expectations, with EPS of $1.34 versus a $1.20 consensus and revenue of $5.51 billion, up 7.2% year over year.
• The company raised its quarterly dividend from $0.035 to $0.04 per share. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $80.87.

Hohimer Wealth Management LLC grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 49.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 66,009 shares of the company's stock after acquiring an additional 21,700 shares during the quarter. Hohimer Wealth Management LLC's holdings in GE HealthCare Technologies were worth $4,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GEHC. NBH Bank bought a new stake in GE HealthCare Technologies during the 2nd quarter valued at about $26,000. Provenance Wealth Advisors LLC grew its position in GE HealthCare Technologies by 401.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 491 shares of the company's stock worth $32,000 after purchasing an additional 393 shares during the last quarter. Global Assets Advisory LLC purchased a new position in GE HealthCare Technologies during the 1st quarter worth approximately $37,000. Fortitude Family Office LLC lifted its stake in GE HealthCare Technologies by 249.1% during the 3rd quarter. Fortitude Family Office LLC now owns 597 shares of the company's stock valued at $39,000 after acquiring an additional 426 shares during the period. Finally, Heritage Family Offices LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter valued at approximately $44,000. Institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Hovde Group began coverage on GE HealthCare Technologies in a report on Friday, July 17th. They issued a "market perform" rating and a $14.00 price objective for the company. Wolfe Research assumed coverage on GE HealthCare Technologies in a research report on Tuesday, October 20th. They issued a "peer perform" rating on the stock. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Finally, Bank of America reaffirmed a "neutral" rating on shares of GE HealthCare Technologies in a report on Thursday, October 29th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.87.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $82.38 on Monday. The stock has a market capitalization of $37.25 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.07 and a beta of 0.64. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The stock has a 50-day moving average of $69.32 and a 200 day moving average of $70.05. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.86.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.14. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The firm had revenue of $5.51 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter last year, the company earned $1.07 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 5.02 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.04 per share. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.0350. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 23rd. GE HealthCare Technologies's dividend payout ratio is presently 3.38%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings.

The company's products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.

GE HealthCare became an independent publicly traded company in January 2023 through its separation from General Electric.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.