GE HealthCare Technologies Inc. $GEHC Stock Holdings Boosted by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its GE HealthCare Technologies position by 334.2% in the third quarter, reaching 50,000 shares valued at approximately $3.27 million. Institutional investors collectively own 82.06% of the company.
• GE HealthCare exceeded quarterly expectations, reporting $1.34 in EPS versus the $1.20 estimate and $5.51 billion in revenue, up 7.2% year over year. Shares recently opened at $79.55, within a 12-month range of $58.75 to $89.77.
• The company raised its quarterly dividend to $0.04 per share, or $0.16 annually. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $80.57.

International Assets Investment Management LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 334.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,000 shares of the company's stock after acquiring an additional 38,485 shares during the period. International Assets Investment Management LLC's holdings in GE HealthCare Technologies were worth $3,268,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Carnegie Investment Counsel grew its stake in shares of GE HealthCare Technologies by 2.0% in the 3rd quarter. Carnegie Investment Counsel now owns 7,678 shares of the company's stock valued at $502,000 after purchasing an additional 151 shares during the period. Beacon Financial Advisory LLC boosted its stake in GE HealthCare Technologies by 5.8% in the 1st quarter. Beacon Financial Advisory LLC now owns 2,965 shares of the company's stock valued at $211,000 after buying an additional 162 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in GE HealthCare Technologies by 3.5% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,850 shares of the company's stock valued at $317,000 after buying an additional 163 shares in the last quarter. Yousif Capital Management LLC boosted its stake in GE HealthCare Technologies by 0.4% in the 3rd quarter. Yousif Capital Management LLC now owns 46,991 shares of the company's stock valued at $3,072,000 after buying an additional 167 shares in the last quarter. Finally, Sigma Planning Corp grew its position in GE HealthCare Technologies by 3.6% in the third quarter. Sigma Planning Corp now owns 5,152 shares of the company's stock valued at $337,000 after acquiring an additional 178 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $79.55 on Tuesday. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The firm has a market cap of $35.93 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 1.30. The business has a fifty day moving average of $68.55 and a 200-day moving average of $70.03.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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 company earned $1.07 EPS. The firm's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 5.02 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared 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 represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. GE HealthCare Technologies's payout ratio is currently 3.38%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEHC. Hovde Group began coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They set a "market perform" rating and a $14.00 price objective for the company. Wolfe Research assumed coverage on GE HealthCare Technologies in a report on Tuesday, October 20th. They set a "peer perform" rating for the company. Wells Fargo & Company boosted their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Bank of America restated a "neutral" rating on shares of GE HealthCare Technologies in a research note on Thursday. Finally, Weiss Ratings raised shares of GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and an average price target of $80.57.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company's portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.

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