Van ECK Associates Corp Boosts Stock Holdings in GE HealthCare Technologies Inc. $GEHC

Van ECK Associates Corp lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,482,631 shares of the company’s stock after acquiring an additional 177,028 shares during the period. Van ECK Associates Corp’s holdings in GE HealthCare Technologies were worth $286,933,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Auto Owners Insurance Co raised its stake in shares of GE HealthCare Technologies by 9,525.4% in the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after purchasing an additional 33,629,559 shares during the last quarter. Dodge & Cox boosted its position in shares of GE HealthCare Technologies by 13.4% during the fourth quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after buying an additional 3,693,918 shares during the last quarter. Capital Research Global Investors increased its holdings in GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock worth $2,080,248,000 after buying an additional 389,796 shares in the last quarter. State Street Corp raised its position in GE HealthCare Technologies by 2.0% in the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock worth $1,644,475,000 after buying an additional 401,932 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in GE HealthCare Technologies by 13.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after buying an additional 1,571,226 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $71.72 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77. The firm has a market capitalization of $32.40 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.09 and a beta of 0.69. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $67.67 and a 200 day moving average of $69.33.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results 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. 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 period last year, the firm earned $1.06 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GEHC shares. BMO Capital Markets assumed coverage on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price target on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of GE HealthCare Technologies in a research report on Wednesday, August 12th. BTIG Research restated a “buy” rating and issued a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. Royal Bank Of Canada began coverage on shares of GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Argus decreased their target price on shares of 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. 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 stock currently has an average rating of “Hold” and an average target price 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.