Sage Investment Counsel LLC Makes New Investment in GE HealthCare Technologies Inc. $GEHC

Sage Investment Counsel LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 9,631 shares of the company’s stock, valued at approximately $630,000.

Several other large investors also recently bought and sold shares of GEHC. State Street Corp grew its stake in GE HealthCare Technologies by 1.6% in the 2nd quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after acquiring an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after acquiring an additional 1,571,226 shares during the last quarter. Dimensional Fund Advisors LP raised its position in GE HealthCare Technologies by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock worth $384,219,000 after acquiring an additional 105,995 shares during the last quarter. Van ECK Associates Corp raised its position in GE HealthCare Technologies by 4.1% during the second quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock worth $286,933,000 after acquiring an additional 177,028 shares during the last quarter. Finally, Mizuho Markets Cayman LP lifted its holdings in shares of GE HealthCare Technologies by 173.2% in the first quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock valued at $218,416,000 after purchasing an additional 1,945,500 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 0.7%

GE HealthCare Technologies stock opened at $71.98 on Tuesday. The stock has a market cap of $32.51 billion, a PE ratio of 16.51, a P/E/G ratio of 1.89 and a beta of 0.73. The stock has a 50-day moving average price of $68.33 and a 200 day moving average price of $70.30. GE HealthCare Technologies Inc. has a 52 week low of $58.75 and a 52 week high of $89.77. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

GE HealthCare Technologies (NASDAQ:GEHC) last released 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. GE HealthCare Technologies’s payout ratio is presently 3.67%.

Analysts Set New Price Targets

Several analysts have issued reports on GEHC shares. Barclays raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Wednesday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $93.00 price objective on shares of GE HealthCare Technologies in a research note on Monday, October 5th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Piper Sandler reaffirmed a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Finally, BTIG Research lowered their target price on GE HealthCare Technologies from $79.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.35.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.