78,300 Shares in GE HealthCare Technologies Inc. $GEHC Purchased by CenterBook Partners LP

CenterBook Partners LP bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, Holdings Channel.com reports. The fund bought 78,300 shares of the company’s stock, valued at approximately $5,118,000.

Several other hedge funds also recently bought and sold shares of GEHC. NBH Bank bought a new position in shares of GE HealthCare Technologies during the second quarter worth $26,000. Provenance Wealth Advisors LLC increased its position in shares of GE HealthCare Technologies by 401.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 491 shares of the company’s stock valued at $32,000 after buying an additional 393 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of GE HealthCare Technologies in the 1st quarter valued at $37,000. Fortitude Family Office LLC increased its position in shares of GE HealthCare Technologies by 249.1% in the 3rd quarter. Fortitude Family Office LLC now owns 597 shares of the company’s stock valued at $39,000 after buying an additional 426 shares in the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth $44,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on GE HealthCare Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Bank of America reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research report on Thursday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $93.00 price objective on shares of GE HealthCare Technologies in a report on Monday, October 5th. Finally, Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Twelve investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $80.87.

GE HealthCare Technologies Stock Down 1.6%

Shares of NASDAQ:GEHC traded down $1.37 during midday trading on Friday, reaching $82.38. 4,181,029 shares of the company were exchanged, compared to its average volume of 3,912,154. The firm has a market cap of $37.25 billion, a PE ratio of 17.38, a P/E/G ratio of 2.00 and a beta of 0.65. 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 fifty day simple moving average of $69.32 and a two-hundred day simple moving average of $70.05. The company has a quick ratio of 1.01, a current ratio of 1.30 and a debt-to-equity ratio of 0.86.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.35 billion. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 5.02 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, October 23rd. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is 3.38%.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings.

The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.

GE HealthCare became an independent publicly traded company in January 2023 through its separation from General Electric.