Fifth Third Bancorp Purchases 734 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Fifth Third Bancorp grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,343 shares of the company’s stock after acquiring an additional 734 shares during the quarter. Fifth Third Bancorp’s holdings in GE HealthCare Technologies were worth $2,598,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in GE HealthCare Technologies by 9.2% during the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. Norges Bank acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth about $229,052,000. Capital Research Global Investors grew its holdings in shares of GE HealthCare Technologies by 5.2% in 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 in the last quarter. Perpetual Ltd acquired a new stake in shares of GE HealthCare Technologies in the first quarter valued at about $96,135,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of GE HealthCare Technologies by 4,959.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after acquiring an additional 743,523 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GEHC. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Bank of America decreased their target price on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. 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 on the stock. Mizuho decreased their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the transaction, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 $1,414,377.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total value of $259,710.00. Following the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded up $0.54 during midday trading on Wednesday, hitting $84.48. 984,328 shares of the company were exchanged, compared to its average volume of 3,038,054. The firm has a market capitalization of $38.56 billion, a P/E ratio of 24.70, a PEG ratio of 3.00 and a beta of 1.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The firm’s 50 day moving average price is $80.45 and its two-hundred day moving average price is $83.31.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date was Friday, July 19th. GE HealthCare Technologies’s payout ratio is 3.51%.

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.