National Pension Service Boosts Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• National Pension Service increased its GE HealthCare stake by 13.1% in the second quarter, adding 99,696 shares to hold 862,154 shares worth approximately $55.2 million. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment remains mixed but generally cautious: GEHC has an average “Hold” rating and a consensus price target of $77.73, with 10 Buy ratings and 11 Hold ratings.
• GE HealthCare reported quarterly earnings of $1.13 per share, beating estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion. Shares opened at $63.93, near the lower end of their 12-month range, and the company pays a $0.14 annualized dividend.

National Pension Service lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 862,154 shares of the company's stock after buying an additional 99,696 shares during the period. National Pension Service owned approximately 0.19% of GE HealthCare Technologies worth $55,186,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GEHC. Godfrey Financial Associates Inc. bought a new position in shares of GE HealthCare Technologies in the fourth quarter worth approximately $27,000. Transamerica Financial Advisors LLC raised its holdings 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. MV Capital Management Inc. purchased a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $33,000. NBH Bank purchased a new stake in GE HealthCare Technologies in the second quarter worth about $26,000. Finally, Zions Bancorporation National Association UT lifted its stake in shares of GE HealthCare Technologies by 125.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 412 shares of the company's stock valued at $34,000 after purchasing an additional 229 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GEHC has been the topic of several research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of GE HealthCare Technologies in a research note on Wednesday, August 12th. Hovde Group started coverage on GE HealthCare Technologies in a research report on Friday, July 17th. They issued a "market perform" rating and a $14.00 price objective on the stock. UBS Group increased their target price on GE HealthCare Technologies from $67.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Zacks Research raised GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $77.73.

GE HealthCare Technologies Trading Down 0.5%

NASDAQ:GEHC opened at $63.93 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a market cap of $28.88 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a 50 day simple moving average of $68.37 and a two-hundred day simple moving average of $68.43.

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

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company's Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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