Glenmede Trust Co. NA Raises Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• Glenmede Trust increased its GE HealthCare Technologies holdings by 279.4% in the first quarter, reaching 97,830 shares valued at approximately $6.96 million. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment remains mixed: 10 analysts rate the stock a Buy, 10 a Hold and one a Sell, resulting in a consensus “Hold” rating and an average price target of $77.73.
• GE HealthCare exceeded quarterly expectations with adjusted earnings of $1.13 per share versus the $1.04 estimate and revenue of $5.29 billion. Directors also bought 12,618 shares worth about $805,175 over the past three months.

Glenmede Trust Co. NA increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 279.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 97,830 shares of the company's stock after acquiring an additional 72,045 shares during the period. Glenmede Trust Co. NA's holdings in GE HealthCare Technologies were worth $6,964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies in the 4th quarter valued at about $26,000. Optima Capital LLC bought a new position in GE HealthCare Technologies in the 4th quarter worth about $27,000. Godfrey Financial Associates Inc. purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $27,000. Montag A & Associates Inc. increased its position in shares of GE HealthCare Technologies by 105.4% during the fourth quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock worth $28,000 after acquiring an additional 175 shares during the period. Finally, Transamerica Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 331.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock valued at $28,000 after acquiring an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Rothschild & Co Redburn lowered their price target on GE HealthCare Technologies from $110.00 to $98.00 in a report on Thursday, April 30th. Evercore restated an "outperform" rating and set a $84.00 price objective on shares of GE HealthCare Technologies in a report on Thursday. Stifel Nicolaus set a $80.00 target price on GE HealthCare Technologies in a research report on Wednesday, April 29th. The Goldman Sachs Group reiterated a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Finally, Piper Sandler reissued a "buy" rating on shares of GE HealthCare Technologies in a research report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $77.73.

Insider Transactions at GE HealthCare Technologies

In related news, Director Kevin Lobo acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $64.18 per share, with a total value of $641,800.00. Following the completion of the transaction, the director directly owned 14,363 shares in the company, valued at $921,817.34. This trade represents a 229.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rodney F. Hochman acquired 1,618 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $62.03 per share, for a total transaction of $100,364.54. Following the transaction, the director owned 1,618 shares of the company's stock, valued at $100,364.54. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 12,618 shares of company stock valued at $805,175. Corporate insiders own 0.36% of the company's stock.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $69.73 on Tuesday. 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 firm's 50 day moving average price is $64.13 and its 200-day moving average price is $70.33. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a market cap of $31.50 billion, a PE ratio of 15.99, a P/E/G ratio of 1.97 and a beta of 0.72.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. 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 firm posted $1.06 earnings per share. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.91 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be issued a $0.035 dividend. The ex-dividend date is Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.21%.

About GE HealthCare Technologies

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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