Y Intercept Hong Kong Ltd Acquires Shares of 15,361 GE HealthCare Technologies Inc. $GEHC

Y Intercept Hong Kong Ltd bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, Holdings Channel.com reports. The firm bought 15,361 shares of the company’s stock, valued at approximately $1,154,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Godsey & Gibb Inc. purchased a new position in GE HealthCare Technologies during the third quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of GE HealthCare Technologies by 130.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 346 shares of the company’s stock worth $26,000 after buying an additional 196 shares in the last quarter. Allianz SE raised its stake in shares of GE HealthCare Technologies by 165.2% during the 2nd quarter. Allianz SE now owns 350 shares of the company’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Gladwyn Financial Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies in the second quarter valued at approximately $34,000. Finally, Piscataqua Savings Bank grew its holdings in GE HealthCare Technologies by 173.4% during the third quarter. Piscataqua Savings Bank now owns 473 shares of the company’s stock worth $36,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC opened at $78.97 on Friday. The stock has a market cap of $35.97 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.38 and a beta of 1.08. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company’s 50-day moving average price is $82.63 and its 200 day moving average price is $77.37. The company has a current ratio of 1.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. GE HealthCare Technologies had a net margin of 10.94% and a return on equity of 22.52%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 9th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, January 9th. GE HealthCare Technologies’s payout ratio is currently 2.89%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEHC. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and raised their target price for the company from $73.00 to $77.00 in a report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Monday, December 29th. Piper Sandler boosted their price objective on shares of GE HealthCare Technologies from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America upped their target price on shares of GE HealthCare Technologies from $82.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Finally, Wells Fargo & Company reduced their price target on shares of GE HealthCare Technologies from $89.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.33.

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.