Gateway Advisory LLC Invests $358,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Gateway Advisory LLC acquired a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the second quarter, HoldingsChannel reports. The fund acquired 4,412 shares of the company’s stock, valued at approximately $358,000.

A number of other large investors also recently modified their holdings of the company. General Electric Co. bought a new stake in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $5,002,865,000. Bank of New York Mellon Corp bought a new stake in GE HealthCare Technologies in the second quarter worth $330,208,000. Pzena Investment Management LLC purchased a new stake in GE HealthCare Technologies during the second quarter valued at about $209,044,000. Charles Schwab Investment Management Inc. bought a new position in shares of GE HealthCare Technologies during the second quarter valued at about $165,377,000. Finally, Swiss National Bank bought a new stake in shares of GE HealthCare Technologies in the 2nd quarter valued at about $120,055,000. 79.18% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 1.5 %

Shares of NASDAQ:GEHC traded up $1.08 on Friday, hitting $73.00. The company had a trading volume of 2,920,110 shares, compared to its average volume of 3,031,795. The firm’s 50-day simple moving average is $67.31 and its two-hundred day simple moving average is $73.31. The firm has a market capitalization of $33.23 billion and a price-to-earnings ratio of 21.73. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 1.44. GE HealthCare Technologies Inc. has a 1 year low of $53.00 and a 1 year high of $87.83.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.89 by $0.10. GE HealthCare Technologies had a net margin of 8.91% and a return on equity of 24.46%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the business posted $0.87 earnings per share. GE HealthCare Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 3.81 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 20th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.12 annualized dividend and a yield of 0.16%. GE HealthCare Technologies’s payout ratio is 3.57%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GEHC. Wells Fargo & Company began coverage on GE HealthCare Technologies in a research report on Wednesday, August 16th. They set an “overweight” rating and a $90.00 price target on the stock. Argus started coverage on shares of GE HealthCare Technologies in a report on Friday, August 25th. They issued a “buy” rating and a $80.00 target price on the stock. Bank of America began coverage on shares of GE HealthCare Technologies in a report on Monday, July 31st. They set a “neutral” rating and a $82.00 price target for the company. Finally, Citigroup started coverage on shares of GE HealthCare Technologies in a report on Tuesday, September 19th. They issued a “buy” rating and a $82.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.44.

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, Europe, the Middle East, Africa, China, Taiwan, Mongolia, Hong Kong, and internationally.