NEOS Investment Management LLC Grows Stake in GE HealthCare Technologies Inc. $GEHC

NEOS Investment Management LLC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 375,920 shares of the company’s stock after purchasing an additional 65,678 shares during the period. NEOS Investment Management LLC’s holdings in GE HealthCare Technologies were worth $24,063,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GEHC. Western Wealth Management LLC grew its position in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Western Wealth Management LLC now owns 5,240 shares of the company’s stock worth $430,000 after acquiring an additional 125 shares during the last quarter. Parkside Financial Bank & Trust raised its position in GE HealthCare Technologies by 3.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company’s stock valued at $293,000 after purchasing an additional 134 shares during the last quarter. Quadrant Capital Group LLC raised its position in GE HealthCare Technologies by 1.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company’s stock valued at $1,030,000 after purchasing an additional 140 shares during the last quarter. Mount Vernon Associates Inc. MD boosted its stake in GE HealthCare Technologies by 0.8% during the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company’s stock worth $1,293,000 after purchasing an additional 144 shares during the period. Finally, Norinchukin Bank The boosted its stake in GE HealthCare Technologies by 0.4% during the 3rd quarter. Norinchukin Bank The now owns 38,913 shares of the company’s stock worth $2,922,000 after purchasing an additional 149 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GEHC shares. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of GE HealthCare Technologies in a research note on Monday, June 8th. Royal Bank Of Canada began coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 price objective for the company. Hovde Group began coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price on the stock. Finally, Zacks Research raised GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.73.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $68.86 on Friday. The company has a market cap of $31.10 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.84 and a beta of 0.70. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The business has a fifty day moving average of $68.29 and a two-hundred day moving average of $69.01. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. As a group, analysts predict 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 announced 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 is presently 3.21%.

GE HealthCare Technologies Profile

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.