Nixon Capital LLC Buys New Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• Nixon Capital LLC acquired 213,571 GE HealthCare shares worth approximately $13.7 million in the second quarter, making GEHC 4.3% of its portfolio. Institutional investors collectively own 82.06% of the company.
• Analyst sentiment is mixed, with 10 Buy ratings and 11 Holds; GEHC has a consensus rating of Hold and an average price target of $77.73.
• GE HealthCare exceeded quarterly expectations, reporting $1.13 in EPS versus $1.04 expected and $5.29 billion in revenue, up 5.8% year over year. The company also pays a quarterly dividend of $0.035 per share.

Nixon Capital LLC acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 213,571 shares of the company's stock, valued at approximately $13,671,000. GE HealthCare Technologies makes up 4.3% of Nixon Capital LLC's investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Auto Owners Insurance Co lifted its stake in shares of 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 worth $278,725,000 after acquiring an additional 33,629,559 shares during the period. Norges Bank bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $596,024,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $533,655,000. Cynosure Group LLC increased its stake in shares of GE HealthCare Technologies by 21,045.4% during the fourth quarter. Cynosure Group LLC now owns 4,365,462 shares of the company's stock valued at $358,055,000 after acquiring an additional 4,344,817 shares during the period. Finally, Boston Partners bought a new stake in GE HealthCare Technologies during the third quarter worth approximately $287,627,000. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEHC. Zacks Research upgraded GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Evercore reiterated an "outperform" rating and set a $84.00 price target on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Argus dropped their price objective on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. The Goldman Sachs Group restated a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of GE HealthCare Technologies in a research note on Wednesday, August 12th. Ten investment 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $77.73.

GE HealthCare Technologies Stock Up 1.0%

GEHC stock opened at $74.82 on Friday. The firm has a market cap of $33.80 billion, a PE ratio of 17.16, a P/E/G ratio of 2.16 and a beta of 0.69. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $66.61 and a 200 day simple moving average of $69.60.

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

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies Company Profile

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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