Northside Capital Management LLC Boosts Holdings in GE HealthCare Technologies Inc. $GEHC

Northside Capital Management LLC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 26.5% during the 2nd quarter, Holdings Channel reports. The firm owned 241,923 shares of the company’s stock after purchasing an additional 50,634 shares during the quarter. GE HealthCare Technologies makes up approximately 1.3% of Northside Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Northside Capital Management LLC’s holdings in GE HealthCare Technologies were worth $15,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GEHC. Empowered Funds LLC grew its holdings in shares of GE HealthCare Technologies by 6.1% during the 1st quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock worth $2,328,000 after purchasing an additional 1,665 shares during the period. Acadian Asset Management LLC purchased a new stake in GE HealthCare Technologies in the 1st quarter valued at about $259,000. Cresset Asset Management LLC lifted its position in GE HealthCare Technologies by 12.5% in the second quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock valued at $578,000 after buying an additional 865 shares during the last quarter. Jump Financial LLC lifted its position in GE HealthCare Technologies by 317.6% in the second quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock valued at $2,084,000 after buying an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in GE HealthCare Technologies by 8.6% during the second quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock worth $299,000 after buying an additional 320 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $72.75 on Wednesday. The firm has a market cap of $32.86 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.69. GE HealthCare Technologies Inc. has a 52-week low of $58.75 and a 52-week high of $89.77. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $65.14 and its two-hundred day moving average is $69.88.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the company posted $1.06 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be issued a $0.035 dividend. The ex-dividend date is 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 (DPR) is 3.21%.

Insider Buying and Selling

In related news, Director Kevin Lobo bought 10,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $64.18 per share, with a total value of $641,800.00. Following the purchase, the director directly owned 14,363 shares of the company’s stock, valued at $921,817.34. This trade represents a 229.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.36% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GEHC shares. Mizuho dropped their price target on shares of GE HealthCare Technologies from $90.00 to $80.00 in a research report on Thursday, April 30th. Stifel Nicolaus set a $80.00 price objective on shares of GE HealthCare Technologies in a research report on Wednesday, April 29th. Royal Bank Of Canada started coverage on shares of GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price for the company. Argus cut their target price on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Evercore restated an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Company 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.