Varenne Capital Partners Boosts Holdings in GE HealthCare Technologies Inc. $GEHC

Varenne Capital Partners boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1,273.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 242,161 shares of the company’s stock after purchasing an additional 224,525 shares during the period. GE HealthCare Technologies makes up approximately 2.6% of Varenne Capital Partners’ portfolio, making the stock its 14th biggest holding. Varenne Capital Partners owned 0.05% of GE HealthCare Technologies worth $15,490,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GEHC. Godfrey Financial Associates Inc. acquired a new stake in GE HealthCare Technologies during the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC boosted its position 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 purchasing an additional 262 shares in the last quarter. MV Capital Management Inc. acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter worth approximately $33,000. NBH Bank acquired a new stake in shares of GE HealthCare Technologies during the 2nd quarter worth approximately $26,000. Finally, Zions Bancorporation National Association UT increased its holdings in shares of GE HealthCare Technologies by 125.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 412 shares of the company’s stock valued at $34,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Hovde Group assumed coverage on shares of GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 target price on the stock. Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Evercore restated an “outperform” rating and issued a $84.00 price target on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $68.86 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The company has a fifty day moving average of $68.29 and a two-hundred day moving average of $68.93. The stock has a market capitalization of $31.10 billion, a PE ratio of 15.79, a P/E/G ratio of 1.82 and a beta of 0.70. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors 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 dividend on an annualized basis and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 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.