Tocqueville Asset Management L.P. Buys 344,852 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Tocqueville Asset Management nearly doubled its GE HealthCare stake in the second quarter, adding 344,852 shares to hold 704,344 shares worth approximately $45.1 million. Institutional investors collectively own 82.06% of the company.
• 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.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $77.73, modestly above the stock’s reported $74.62 price.

Tocqueville Asset Management L.P. lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 95.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 704,344 shares of the company's stock after acquiring an additional 344,852 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.16% of GE HealthCare Technologies worth $45,085,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in GE HealthCare Technologies in the fourth quarter worth approximately $26,000. Godfrey Financial Associates Inc. bought a new stake in GE HealthCare Technologies during the 4th quarter valued at $27,000. Montag A & Associates Inc. raised its position in GE HealthCare Technologies by 105.4% during the 4th quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of 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 during the period. Finally, Physician Wealth Advisors Inc. lifted its holdings in shares of 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 period. Institutional investors own 82.06% of the company's stock.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, Director Kevin Lobo acquired 10,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $64.18 per share, with a total value of $641,800.00. Following the transaction, the director directly owned 14,363 shares of the company's stock, valued at $921,817.34. This trade represents a 229.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by insiders.

GE HealthCare Technologies Stock Up 2.7%

NASDAQ:GEHC opened at $74.62 on Thursday. The company's 50-day simple moving average is $66.22 and its 200-day simple moving average is $69.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The stock has a market capitalization of $33.71 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.10 and a beta of 0.69.

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 firm had revenue of $5.29 billion during 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%. GE HealthCare Technologies's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. On average, equities analysts anticipate 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. Stockholders of record on Friday, July 24th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies's dividend payout ratio is currently 3.21%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GEHC shares. Royal Bank Of Canada started coverage on GE HealthCare Technologies in a research note on Tuesday, June 23rd. They set an "outperform" rating and a $80.00 price target on the stock. Mizuho dropped their target price on shares of GE HealthCare Technologies from $90.00 to $80.00 in a report on Thursday, April 30th. Rothschild & Co Redburn cut their target price on shares of GE HealthCare Technologies from $110.00 to $98.00 in a research report on Thursday, April 30th. Weiss Ratings restated a "hold (c-)" rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Finally, HSBC lowered their price target on shares of GE HealthCare Technologies from $100.00 to $90.00 in a research report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Hold" and a consensus target price of $77.73.

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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