Van ECK Associates Corp Acquires 177,028 Shares of GE HealthCare Technologies Inc. $GEHC

Key Points

• Van ECK Associates increased its GE HealthCare stake by 4.1% in the second quarter, acquiring 177,028 shares and bringing its total holdings to 4.48 million shares valued at approximately $286.9 million.
• GE HealthCare reported quarterly earnings of $1.13 per share, beating the $1.04 analyst consensus, while revenue rose 5.8% year over year to $5.29 billion.
• The stock was recently priced at $71.72, with analysts assigning a consensus “Hold” rating and an average price target of $77.73; the company also pays a quarterly dividend of $0.035 per share.

Van ECK Associates Corp increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,482,631 shares of the company's stock after purchasing an additional 177,028 shares during the period. Van ECK Associates Corp owned approximately 0.99% of GE HealthCare Technologies worth $286,933,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $26,000. Godfrey Financial Associates Inc. purchased a new position in GE HealthCare Technologies in the 4th quarter worth approximately $27,000. Montag A & Associates Inc. lifted its position in GE HealthCare Technologies by 105.4% in the fourth quarter. Montag A & Associates Inc. now owns 341 shares of the company's stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 331.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 341 shares of the company's stock valued at $28,000 after purchasing an additional 262 shares during the period. Finally, Physician Wealth Advisors Inc. increased its stake in shares of GE HealthCare Technologies by 60.4% in the first 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. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 1.0%

NASDAQ:GEHC opened at $71.72 on Friday. 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's 50-day moving average price is $67.67 and its 200-day moving average price is $69.33. The company has a market capitalization of $32.40 billion, a PE ratio of 16.45, a P/E/G ratio of 2.09 and a beta of 0.69. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77.

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 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 last year, the firm earned $1.06 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Hovde Group assumed coverage on GE HealthCare Technologies in a report on Friday, July 17th. They issued a "market perform" rating and a $14.00 price objective for the company. BTIG Research reissued a "buy" rating and set a $79.00 target price on shares of GE HealthCare Technologies in a research note on Wednesday, August 19th. Argus dropped their price target on GE HealthCare Technologies from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of GE HealthCare Technologies in a report on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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