Mystic Asset Management Inc. Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mystic Asset Management Inc. increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,324 shares of the company’s stock after purchasing an additional 184 shares during the quarter. Mystic Asset Management Inc.’s holdings in GE HealthCare Technologies were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. Norges Bank purchased a new stake in GE HealthCare Technologies in the 4th quarter valued at about $229,052,000. Capital Research Global Investors increased its stake in shares of GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock valued at $4,908,406,000 after acquiring an additional 2,647,204 shares during the last quarter. Perpetual Ltd acquired a new position in shares of GE HealthCare Technologies during the 1st quarter valued at about $96,135,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of GE HealthCare Technologies by 4,959.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock worth $68,957,000 after acquiring an additional 743,523 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $86.91 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The stock’s 50 day moving average price is $83.05 and its 200 day moving average price is $83.41. The firm has a market capitalization of $39.69 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 3.26 and a beta of 1.17.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a $0.03 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insider Activity at GE HealthCare Technologies

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at approximately $1,414,377.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GEHC. Stifel Nicolaus began coverage on shares of GE HealthCare Technologies in a research report on Tuesday, August 6th. They set a “buy” rating and a $100.00 price target for the company. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.58.

About GE HealthCare Technologies

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.