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

Sage Investment Counsel LLC acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,631 shares of the company’s stock, valued at approximately $630,000.

A number of other large investors also recently bought and sold shares of GEHC. Trian Fund Management L.P. boosted its holdings in shares of GE HealthCare Technologies by 76,194.4% in the second quarter. Trian Fund Management L.P. now owns 3,085,344 shares of the company’s stock valued at $197,493,000 after acquiring an additional 3,081,300 shares in the last quarter. Mizuho Markets Cayman LP increased its stake in shares of GE HealthCare Technologies by 173.2% during the first quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock worth $218,416,000 after acquiring an additional 1,945,500 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of 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 period. Amundi raised its holdings in GE HealthCare Technologies by 129.9% during the second quarter. Amundi now owns 2,500,094 shares of the company’s stock worth $160,031,000 after purchasing an additional 1,412,453 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in GE HealthCare Technologies by 107.4% during the third quarter. Perpetual Ltd now owns 2,712,232 shares of the company’s stock worth $177,299,000 after purchasing an additional 1,404,683 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $71.98 on Tuesday. The firm’s fifty day simple moving average is $68.33 and its 200-day simple moving average is $70.30. 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 stock has a market cap of $32.51 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.73. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77.

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

GE HealthCare Technologies Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. BMO Capital Markets initiated coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 target price on the stock. Hovde Group initiated coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 target price for the company. Weiss Ratings raised GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.35.

GE HealthCare Technologies 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.