Mather Group LLC. Purchases 39,796 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Mather Group increased its GE HealthCare Technologies stake by 86.2% in the third quarter, purchasing 39,796 additional shares for a total position worth approximately $5.6 million. Institutional investors collectively own 82.06% of the company.
• GE HealthCare reported quarterly adjusted earnings of $1.13 per share, surpassing estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion.
• The company raised its quarterly dividend to $0.04 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $78.35, above the reported share price of $70.35.

Mather Group LLC. lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 86.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,945 shares of the company's stock after purchasing an additional 39,796 shares during the quarter. Mather Group LLC.'s holdings in GE HealthCare Technologies were worth $5,618,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its holdings 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 buying an additional 426 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in GE HealthCare Technologies by 2.2% during the third quarter. Salem Investment Counselors Inc. now owns 184,230 shares of the company's stock valued at $12,043,000 after purchasing an additional 3,948 shares during the last quarter. Perpetual Ltd grew its stake in shares of GE HealthCare Technologies by 107.4% in 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. Wedmont Private Capital grew its stake in shares of GE HealthCare Technologies by 80.3% in the 3rd quarter. Wedmont Private Capital now owns 7,550 shares of the company's stock worth $485,000 after buying an additional 3,362 shares in the last quarter. Finally, Acropolis Investment Management LLC increased its holdings in shares of GE HealthCare Technologies by 137.9% in the 3rd quarter. Acropolis Investment Management LLC now owns 3,939 shares of the company's stock worth $257,000 after buying an additional 2,283 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 2.7%

Shares of GEHC opened at $70.35 on Friday. The company has a market cap of $31.78 billion, a PE ratio of 16.14, a P/E/G ratio of 1.81 and a beta of 0.73. The business has a fifty day moving average of $68.58 and a 200 day moving average of $66.77. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. GE HealthCare Technologies's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders 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. The ex-dividend date is Friday, October 23rd. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.67%.

Analyst Ratings Changes

GEHC has been the topic of several recent research reports. Royal Bank Of Canada restated an "outperform" rating on shares of GE HealthCare Technologies in a research report on Monday, October 5th. Evercore reaffirmed an "outperform" rating and issued a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Weiss Ratings upgraded GE HealthCare Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Barclays upgraded GE HealthCare Technologies to a "strong-buy" rating in a research report on Wednesday, October 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $93.00 price objective on shares of GE HealthCare Technologies in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.35.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology and healthcare services company that develops, manufactures and supports products used by hospitals, clinicians and researchers. Its offerings are designed to assist with disease detection, diagnosis, treatment, patient monitoring and clinical workflow management.

The company's portfolio includes computed tomography, magnetic resonance imaging, X-ray and molecular imaging systems; ultrasound equipment; patient monitoring and anesthesia delivery technologies; and pharmaceutical diagnostics, including contrast agents used in medical imaging.

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