Harbour Capital Advisors LLC Invests $508,000 in GE HealthCare Technologies Inc. $GEHC

Key Points

• Harbour Capital Advisors LLC purchased 6,680 shares of GE HealthCare Technologies, valued at approximately $508,000, as reported in their recent SEC filing.
• Institutional investors hold 82.06% of GE HealthCare Technologies' stock, with multiple hedge funds recently increasing their stakes.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share, translating to an annual yield of 0.2%.

Harbour Capital Advisors LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,680 shares of the company's stock, valued at approximately $508,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its stake in GE HealthCare Technologies by 25.6% during the second quarter. Pinnacle Bancorp Inc. now owns 968 shares of the company's stock worth $72,000 after purchasing an additional 197 shares during the last quarter. Wright Investors Service Inc. boosted its stake in shares of GE HealthCare Technologies by 105.3% during the 2nd quarter. Wright Investors Service Inc. now owns 25,445 shares of the company's stock worth $1,885,000 after acquiring an additional 13,053 shares in the last quarter. Bridge Creek Capital Management LLC boosted its stake in shares of GE HealthCare Technologies by 58.2% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 31,852 shares of the company's stock worth $2,359,000 after acquiring an additional 11,719 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $7,804,000. Finally, IFM Investors Pty Ltd raised its holdings in GE HealthCare Technologies by 8.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 93,597 shares of the company's stock valued at $6,933,000 after acquiring an additional 6,899 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEHC. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Zacks Research raised GE HealthCare Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 28th. Citigroup boosted their price objective on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a research report on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of GE HealthCare Technologies from a "buy" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $88.40.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded up $0.04 on Tuesday, reaching $74.81. 1,297,794 shares of the stock were exchanged, compared to its average volume of 3,947,100. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85. The company's 50-day simple moving average is $74.54 and its two-hundred day simple moving average is $73.02. The firm has a market capitalization of $34.15 billion, a PE ratio of 15.32, a PEG ratio of 2.86 and a beta of 1.13. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.15. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%.GE HealthCare Technologies's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 earnings per share. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.87%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.