On September 19, 2023, it was noted that Harbor Capital Advisors Inc. had recently obtained a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the second quarter. This information was disclosed by the company in its most recent 13F filing with the Securities & Exchange Commission.
The investment fund acquired a total of 7,661 shares of GE HealthCare Technologies’ stock, which were valued at approximately $622,000. This move signifies Harbor Capital Advisors Inc.’s confidence and interest in the company’s potential growth and profitability.
In regards to GE HealthCare Technologies’ financial performance, its quarterly earnings data for the period ending on July 25th was also analyzed. The company reported an impressive earnings per share (EPS) of $0.92 for the quarter, surpassing analysts’ consensus estimates of $0.87 by $0.05.
Moreover, GE HealthCare Technologies managed to generate revenue amounting to $4.82 billion during the said quarter, exceeding analyst estimates of $4.79 billion. This marked a substantial increase of 7.4% in revenue compared to the same period last year.
Looking ahead, sell-side analysts are predicting that GE HealthCare Technologies Inc. will achieve an earnings per share of around 3.8 for the current year as a whole.
This recent development showcases Harbor Capital Advisors Inc.’s optimism regarding GE HealthCare Technologies’ future prospects based on their decision to acquire shares in the company during the second quarter of this year.
Investors and industry observers may continue to monitor the progress of GE HealthCare Technologies Inc., as it evidently demonstrates encouraging financial results and attracts attention from prominent investment firms like Harbor Capital Advisors Inc.
It is important to note that investing in stocks involves risk and potential losses for investors should be carefully considered before making any decisions or entering into any positions based on this information provided here or elsewhere.
Accenture plc
ACN
Strong Buy
Updated on: 29/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
GE HealthCare Technologies: Institutional Investments and Analyst Predictions Shape Future Prospects
GE HealthCare Technologies: Shifting Landscapes and Investment Trends
Date: September 19, 2023
In recent months, several institutional investors and hedge funds have made notable changes to their positions in GE HealthCare Technologies (GEHC). This shift has prompted a degree of perplexity as industry analysts closely monitor the implications of these financial maneuvers.
ARS Investment Partners LLC, for instance, acquired a noteworthy stake in GEHC during the second quarter valued at $9,516,000. Simultaneously, Czech National Bank secured an investment worth $3,750,000 in shares of GEHC. Similarly, Maryland State Retirement & Pension System purchased shares amounting to approximately $2,419,000 during the same period. Northwest Investment Counselors LLC further contributed to this movement by acquiring shares valued at $730,000. Furthermore, Bard Financial Services Inc. acquired a stake estimated at around $598,000 during the second quarter. Collectively, it is important to note that institutional investors and hedge funds now possess a significant majority stake of 79.18% in the company’s stock.
This development has raised eyebrows within the industry and piqued interest among research analysts who have released multiple reports analyzing GEHC’s potential trajectory. Argus notably initiated coverage on GEHC with a “buy” rating and set a target price of $80.00 per share on August 25th. Bank of America also published its findings concerning the company on July 31st; they issued a “neutral” rating alongside a price target of $82.00 per share.
Wells Fargo & Company weighed in on August 16th by providing an “overweight” rating and setting an optimistic price objective of $90.00 per share on GEHC stock. Similarly Morgan Stanley shared their thoughts on June 27th when they assigned an “equal weight” rating for the company.
Bloomberg.com currently reports that GEHC holds a consensus rating of “Moderate Buy” according to these research analysts’ assessments. Additionally, the average target price for GEHC’s stock stands at $89.25.
In other news, CEO Kevin Michael O’neill executed a transaction on July 31st, selling 15,609 shares of GEHC stock at an average price of $77.32 per share. This sale generated a total transaction value of $1,206,887.88. Following this transaction, O’neill directly holds 24,025 shares of the company’s stock, with an estimated value of $1,857,613.
The disclosure of this sale was made through a legal filing with the Securities & Exchange Commission (SEC) and is publicly accessible on their website. It should be noted that insiders now hold a minimal 0.21% ownership stake in the company’s stock.
As of Tuesday, GE HealthCare Technologies opened trading at $66.28 per share. The company exhibits a current ratio of 1.22 and a quick ratio of 0.92 while maintaining a debt-to-equity ratio of 1.44.
Over the past year, GEHC has experienced fluctuations in its share prices from a low point of $53.00 to a high point of $87.83 within the same time frame. Presently, the stock’s 50-day moving average stocks at $73.08 while its two-hundred day moving average rests marginally higher at $77.01.
Considering recent institutional investments and financial predictions from research analysts highlighted in this article, observers are eagerly anticipating how these developments will shape the trajectory and prospects for GE HealthCare Technologies in the future.
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