GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Boosted by Amalgamated Bank

Amalgamated Bank raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,958 shares of the company’s stock after acquiring an additional 2,111 shares during the period. Amalgamated Bank’s holdings in GE HealthCare Technologies were worth $8,038,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GEHC. Vanguard Group Inc. lifted its holdings in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the period. Invesco Ltd. boosted its holdings in shares of GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GE HealthCare Technologies by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock valued at $298,043,000 after acquiring an additional 315,808 shares in the last quarter. Northern Trust Corp increased its stake in shares of GE HealthCare Technologies by 8.9% during the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock valued at $286,143,000 after acquiring an additional 342,040 shares during the period. Finally, Gates Capital Management Inc. raised its holdings in GE HealthCare Technologies by 17.5% during the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after purchasing an additional 402,900 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 2.1 %

Shares of NASDAQ:GEHC opened at $79.47 on Friday. The firm has a 50 day simple moving average of $88.25 and a 200 day simple moving average of $78.89. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. The company has a market cap of $36.27 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.86 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Activity

In related news, insider Frank R. Jimenez purchased 1,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GEHC has been the topic of several research analyst reports. Citigroup lifted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Bank of America cut their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday. Mizuho lowered their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Finally, Morgan Stanley raised their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.