GE HealthCare Technologies Inc. $GEHC Shares Newly Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners acquired a new 78,300-share stake in GE HealthCare during the third quarter, valued at approximately $5.1 million. Several other institutional investors also increased holdings.
• GE HealthCare reported quarterly EPS of $1.34, beating the $1.20 consensus, while revenue rose 7.2% year over year to $5.51 billion.
• The company increased its quarterly dividend from $0.035 to $0.04 per share. Analysts’ average rating is “Moderate Buy,” with an average price target of $80.87.

CenterBook Partners LP acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 78,300 shares of the company's stock, valued at approximately $5,118,000.

A number of other institutional investors also recently modified their holdings of GEHC. Trian Fund Management L.P. grew its stake in shares of GE HealthCare Technologies by 76,194.4% during the second quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company's stock valued at $197,493,000 after purchasing an additional 3,081,300 shares during the last quarter. Mizuho Markets Cayman LP raised its position in GE HealthCare Technologies by 173.2% in the 1st quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company's stock worth $218,416,000 after purchasing an additional 1,945,500 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock worth $861,307,000 after buying an additional 1,571,226 shares in the last quarter. Amundi lifted its holdings in GE HealthCare Technologies by 129.9% during the 2nd quarter. Amundi now owns 2,500,094 shares of the company's stock worth $160,031,000 after buying an additional 1,412,453 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in GE HealthCare Technologies by 107.4% during the 3rd quarter. Perpetual Ltd now owns 2,712,232 shares of the company's stock worth $177,299,000 after buying an additional 1,404,683 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 1.6%

GEHC traded down $1.37 during trading on Friday, reaching $82.38. 4,181,029 shares of the company's stock were exchanged, compared to its average volume of 3,912,154. The company's fifty day moving average price is $69.32 and its 200-day moving average price is $70.05. The firm has a market capitalization of $37.25 billion, a PE ratio of 17.38, a P/E/G ratio of 2.00 and a beta of 0.65. 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 0.86, a quick ratio of 1.01 and a current ratio of 1.30.

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

GE HealthCare Technologies Increases Dividend

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

Analysts Set New Price Targets

GEHC has been the subject of several research reports. UBS Group lifted their target price on GE HealthCare Technologies from $73.00 to $80.00 and gave the company a "neutral" rating in a research note on Tuesday. Bank of America reiterated a "neutral" rating on shares of GE HealthCare Technologies in a report on Thursday, October 29th. Wolfe Research started coverage on GE HealthCare Technologies in a research report on Tuesday, October 20th. They issued a "peer perform" rating for the company. Evercore reiterated an "outperform" rating and issued a $84.00 price objective on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Finally, Weiss Ratings raised GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. Twelve investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average target price of $80.87.

About GE HealthCare Technologies

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.