Northside Capital Management LLC Increases Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Northside Capital Management increased its GE HealthCare position by 26.5% in the second quarter, bringing its holdings to 241,923 shares worth approximately $15.5 million. Institutional investors collectively own 82.06% of the company.
• GE HealthCare reported quarterly earnings of $1.13 per share, exceeding estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and an average price target of $77.73, while GE HealthCare declared a quarterly dividend of $0.035 per share.

Northside Capital Management LLC lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 26.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,923 shares of the company's stock after acquiring an additional 50,634 shares during the period. GE HealthCare Technologies accounts for approximately 1.3% of Northside Capital Management LLC's investment portfolio, making the stock its 24th biggest holding. Northside Capital Management LLC owned about 0.05% of GE HealthCare Technologies worth $15,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its holdings in shares of GE HealthCare Technologies by 16,539.1% during the first quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company's stock worth $1,849,000 after purchasing an additional 25,801 shares during the period. Allstate Corp increased its holdings in GE HealthCare Technologies by 100.3% in the 4th quarter. Allstate Corp now owns 32,688 shares of the company's stock worth $2,681,000 after buying an additional 16,365 shares during the period. Auto Owners Insurance Co increased its holdings 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 worth $278,725,000 after buying an additional 33,629,559 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in GE HealthCare Technologies during the 4th quarter worth approximately $43,394,000. Finally, Boston Partners lifted its stake in GE HealthCare Technologies by 21.7% during the 4th quarter. Boston Partners now owns 4,659,562 shares of the company's stock valued at $382,223,000 after acquiring an additional 830,626 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

Insiders Place Their Bets

In other GE HealthCare Technologies news, Director Kevin Lobo purchased 10,000 shares of the stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the transaction, the director owned 14,363 shares of the company's stock, valued at $921,817.34. This trade represents a 229.20% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.36% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Rothschild & Co Redburn dropped their price objective on shares of GE HealthCare Technologies from $110.00 to $98.00 in a report on Thursday, April 30th. Evercore restated an "outperform" rating and set a $84.00 target price on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Barclays lowered their price target on shares of GE HealthCare Technologies from $87.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group reiterated a "neutral" rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Finally, Argus lowered their target price 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. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $77.73.

GE HealthCare Technologies Stock Down 0.3%

GEHC stock opened at $72.75 on Wednesday. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The firm's fifty day moving average is $65.14 and its 200 day moving average is $69.88. The firm has a market cap of $32.86 billion, a PE ratio of 16.69, a P/E/G ratio of 2.11 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The company's revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, July 24th. GE HealthCare Technologies's payout ratio is currently 3.21%.

GE HealthCare Technologies 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.

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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