Pzena Investment Management LLC Buys New Shares in GE HealthCare Technologies Inc. $GEHC

Pzena Investment Management LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,255,691 shares of the company’s stock, valued at approximately $82,085,000.

A number of other hedge funds have also bought and sold shares of GEHC. NBH Bank purchased a new position in GE HealthCare Technologies in the second quarter worth $26,000. Provenance Wealth Advisors LLC grew its stake in GE HealthCare Technologies by 401.0% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 491 shares of the company’s stock valued at $32,000 after purchasing an additional 393 shares during the period. Global Assets Advisory LLC bought a new position in GE HealthCare Technologies in the 1st quarter valued at $37,000. Fortitude Family Office LLC grew its stake in GE HealthCare Technologies by 249.1% in the 3rd quarter. Fortitude Family Office LLC now owns 597 shares of the company’s stock valued at $39,000 after purchasing an additional 426 shares during the period. Finally, Aberdeen Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at $44,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on GEHC. Royal Bank Of Canada lifted their target price on GE HealthCare Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. BTIG Research increased their price target on shares of GE HealthCare Technologies from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Evercore restated an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. Barclays raised their price objective on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Twelve investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.87.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $85.81 on Thursday. The business’s 50 day simple moving average is $68.91 and its 200 day simple moving average is $70.03. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a market cap of $38.80 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 2.03 and a beta of 0.65. The company has a current ratio of 1.30, a quick ratio of 1.01 and a debt-to-equity ratio of 0.86.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 5.02 EPS for the current 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 given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 23rd. 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. GE HealthCare Technologies’s payout ratio is currently 3.38%.

About GE HealthCare Technologies

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.