Handelsbanken Fonder AB Grows Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Handelsbanken Fonder AB lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 87.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 168,015 shares of the company’s stock after purchasing an additional 78,554 shares during the period. Handelsbanken Fonder AB’s holdings in GE HealthCare Technologies were worth $12,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GEHC. Vanguard Group Inc. boosted its stake in shares of GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after buying an additional 5,693,244 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after purchasing an additional 1,221,436 shares during the period. Envestnet Asset Management Inc. raised its holdings in GE HealthCare Technologies by 1,323.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock worth $69,682,000 after purchasing an additional 952,182 shares during the period. Invesco Ltd. raised its holdings in GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after purchasing an additional 889,297 shares during the period. Finally, Nordea Investment Management AB bought a new position in GE HealthCare Technologies in the 3rd quarter worth $55,152,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 2.3 %

Shares of GEHC stock opened at $86.24 on Wednesday. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average price is $88.84 and its 200-day moving average price is $78.21. The stock has a market capitalization of $39.35 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.93 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.97%.

Analyst Ratings Changes

A number of equities analysts recently commented on GEHC shares. Evercore ISI raised their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Morgan Stanley raised their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. HSBC started coverage on GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price on the stock. Argus raised their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.09.

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.