Public Employees Retirement System of Ohio Purchases New Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Public Employees Retirement System of Ohio acquired 157,608 GE HealthCare shares in the second quarter, valued at approximately $10.1 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.
• Analysts maintain a consensus “Hold” rating with an average price target of $77.73, compared with the stock’s reported price of $71.23.

Public Employees Retirement System of Ohio acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 157,608 shares of the company's stock, valued at approximately $10,088,000.

Other institutional investors have also added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth $27,000. Montag A & Associates Inc. boosted its position in shares of GE HealthCare Technologies by 105.4% during the fourth quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after buying an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 331.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock worth $28,000 after buying an additional 262 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company's stock worth $31,000 after buying an additional 163 shares during the last quarter. Finally, MV Capital Management Inc. bought a new position in GE HealthCare Technologies during the 4th quarter valued at about $33,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GEHC has been the subject of several research reports. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Piper Sandler reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Wednesday, July 29th. Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a research note on Tuesday, June 23rd. They set an "outperform" rating and a $80.00 target price on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $77.73.

GE HealthCare Technologies Stock Down 0.7%

NASDAQ GEHC opened at $71.23 on Tuesday. 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 Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.07 and a beta of 0.69. The company has a fifty day moving average of $67.89 and a two-hundred day moving average of $69.20.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its 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 net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion for 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 business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.

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.

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