Mathes Company Inc. Raises Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mathes Company Inc. raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 196.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,251 shares of the company’s stock after purchasing an additional 32,665 shares during the quarter. GE HealthCare Technologies accounts for about 1.6% of Mathes Company Inc.’s investment portfolio, making the stock its 21st largest position. Mathes Company Inc.’s holdings in GE HealthCare Technologies were worth $4,622,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in shares of GE HealthCare Technologies in the first quarter worth $25,000. Fred Alger Management LLC purchased a new position in shares of GE HealthCare Technologies in the second quarter worth $26,000. BNP Paribas purchased a new position in shares of GE HealthCare Technologies in the first quarter worth $30,000. Elkhorn Partners Limited Partnership purchased a new position in shares of GE HealthCare Technologies in the second quarter worth $31,000. Finally, ORG Partners LLC increased its position in GE HealthCare Technologies by 2,475.0% in the second quarter. ORG Partners LLC now owns 412 shares of the company’s stock worth $32,000 after purchasing an additional 396 shares during the last quarter. 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 $86.95 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market cap of $39.71 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.26 and a beta of 1.18. The business’s 50 day moving average price is $88.61 and its 200 day moving average price is $83.45.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at $1,414,377.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of several research reports. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company boosted their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $94.36.

GE HealthCare Technologies Profile

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.