NEOS Investment Management LLC Raises Holdings in GE HealthCare Technologies Inc. $GEHC

Key Points

• NEOS Investment Management increased its GE HealthCare holdings by 21.2% in the second quarter, purchasing 65,678 additional shares. Institutional investors collectively own 82.06% of the company.
• GE HealthCare shares were trading at $68.86, down 1.2%, while the company reported quarterly EPS of $1.13, beating estimates by $0.09, and revenue of $5.29 billion, up 5.8% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $77.73. The company also paid a quarterly dividend of $0.035 per share, equivalent to a 0.2% annual yield.

NEOS Investment Management LLC increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 21.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 375,920 shares of the company's stock after purchasing an additional 65,678 shares during the period. NEOS Investment Management LLC owned approximately 0.08% of GE HealthCare Technologies worth $24,063,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Auto Owners Insurance Co grew its position in GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock valued at $278,725,000 after acquiring an additional 33,629,559 shares during the last quarter. Dodge & Cox lifted its holdings in GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company's stock valued at $2,559,945,000 after buying an additional 3,693,918 shares in the last quarter. Capital Research Global Investors lifted its holdings in GE HealthCare Technologies by 1.6% during the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock valued at $2,080,248,000 after buying an additional 389,796 shares in the last quarter. State Street Corp boosted its position in GE HealthCare Technologies by 2.0% in the 4th quarter. State Street Corp now owns 20,049,677 shares of the company's stock valued at $1,644,475,000 after buying an additional 401,932 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in GE HealthCare Technologies by 13.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock valued at $861,307,000 after buying an additional 1,571,226 shares during the period. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Down 1.2%

Shares of NASDAQ:GEHC opened at $68.86 on Friday. The business's 50 day moving average price is $68.29 and its 200-day moving average price is $69.01. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77. The firm has a market capitalization of $31.10 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.84 and a beta of 0.70. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97.

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. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.GE HealthCare Technologies's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend 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%.

Wall Street Analyst Weigh In

Several research firms have commented on GEHC. Hovde Group assumed coverage on GE HealthCare Technologies in a report on Friday, July 17th. They set a "market perform" rating and a $14.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Argus reduced their target price on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Finally, Evercore reissued an "outperform" rating and set a $84.00 price objective on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $77.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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