Great Lakes Advisors LLC Buys 51,374 Shares of GE HealthCare Technologies Inc. $GEHC

Great Lakes Advisors LLC raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 48.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 156,796 shares of the company’s stock after buying an additional 51,374 shares during the quarter. Great Lakes Advisors LLC’s holdings in GE HealthCare Technologies were worth $10,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise grew its holdings in shares of GE HealthCare Technologies by 16,539.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 25,957 shares of the company’s stock valued at $1,849,000 after buying an additional 25,801 shares during the period. Allstate Corp raised its stake in GE HealthCare Technologies by 100.3% during 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 raised its stake in GE HealthCare Technologies by 9,525.4% during 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 bought a new position in GE HealthCare Technologies during the fourth quarter worth about $43,394,000. Finally, Boston Partners grew its stake in GE HealthCare Technologies by 21.7% in the fourth 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. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $72.63 on Wednesday. The company has a fifty day moving average price of $66.01 and a two-hundred day moving average price of $69.63. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The stock has a market cap of $32.81 billion, a P/E ratio of 16.66, a P/E/G ratio of 2.13 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. The company 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%. GE HealthCare Technologies’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. As a group, equities analysts predict 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 was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis 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%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BNP Paribas Exane lowered their price target on GE HealthCare Technologies from $95.00 to $88.00 in a report on Friday, May 1st. Stifel Nicolaus set a $80.00 price objective on GE HealthCare Technologies in a report on Wednesday, April 29th. Royal Bank Of Canada assumed coverage on GE HealthCare Technologies in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 target price for the company. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, HSBC cut their price target on shares of GE HealthCare Technologies from $100.00 to $90.00 in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Hold” and a consensus price target of $77.73.

Insiders Place Their Bets

In other GE HealthCare Technologies news, Director Kevin Lobo acquired 10,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the purchase, the director directly owned 14,363 shares of the company’s stock, valued at approximately $921,817.34. This represents a 229.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is currently owned by company insiders.

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.