Mengis Capital Management Inc. Buys 11,685 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Mengis Capital Management Inc. lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 53.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,677 shares of the company’s stock after buying an additional 11,685 shares during the quarter. Mengis Capital Management Inc.’s holdings in GE HealthCare Technologies were worth $3,161,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors raised 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. Vanguard Group Inc. increased its position in shares of GE HealthCare Technologies by 9.2% in 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. Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies in the third quarter valued at approximately $208,513,000. The Manufacturers Life Insurance Company lifted its position in GE HealthCare Technologies by 18.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock valued at $97,088,000 after purchasing an additional 189,956 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in GE HealthCare Technologies by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock worth $95,952,000 after buying an additional 23,448 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $84.92 on Wednesday. The firm has a market capitalization of $38.80 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 3.06 and a beta of 1.24. The stock has a fifty day moving average of $88.92 and a 200 day moving average of $83.47. 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 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GEHC. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus lifted their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.