Allstate Corp Takes $1.23 Million Position in GE HealthCare Technologies Inc. $GEHC

Allstate Corp purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,323 shares of the company’s stock, valued at approximately $1,226,000.

A number of other large investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in GE HealthCare Technologies by 13.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 59,212 shares of the company’s stock valued at $4,411,000 after acquiring an additional 6,986 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $556,000. Rovin Capital UT ADV increased its position in shares of GE HealthCare Technologies by 5.4% in the third quarter. Rovin Capital UT ADV now owns 7,165 shares of the company’s stock worth $538,000 after purchasing an additional 366 shares during the period. Florida Trust Wealth Management Co raised its stake in GE HealthCare Technologies by 3.6% in the third quarter. Florida Trust Wealth Management Co now owns 7,515 shares of the company’s stock valued at $564,000 after purchasing an additional 260 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its stake in GE HealthCare Technologies by 4.6% in the third quarter. J.Safra Asset Management Corp now owns 3,457 shares of the company’s stock valued at $260,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GEHC shares. Barclays assumed coverage on shares of GE HealthCare Technologies in a research note on Monday, October 13th. They set an “equal weight” rating and a $86.00 price objective on the stock. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $83.00 to $88.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Bank of America upped their target price on GE HealthCare Technologies from $82.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GE HealthCare Technologies in a report on Monday, December 29th. Finally, Evercore ISI reissued an “outperform” rating and set a $95.00 price target on shares of GE HealthCare Technologies in a report on Monday, January 5th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.83.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $81.10 on Thursday. The firm has a market capitalization of $36.94 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.38 and a beta of 1.08. The company has a current ratio of 1.18, a quick ratio of 0.95 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $81.69 and its 200-day moving average price is $77.13. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.02. GE HealthCare Technologies had a return on equity of 22.52% and a net margin of 10.94%.The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2025 guidance at 4.510-4.630 EPS. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 9th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 9th. GE HealthCare Technologies’s payout ratio is 2.89%.

GE HealthCare Technologies Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.