GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,873 shares of the company’s stock after buying an additional 3,992 shares during the period. Van ECK Associates Corp’s holdings in GE HealthCare Technologies were worth $5,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC lifted its position in GE HealthCare Technologies by 49.4% during the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after buying an additional 399,961 shares in the last quarter. South Dakota Investment Council raised its stake in shares of GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after purchasing an additional 71,857 shares during the period. US Bancorp DE raised its stake in shares of GE HealthCare Technologies by 83.4% during the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after purchasing an additional 66,638 shares during the period. Cerity Partners LLC raised its stake in shares of GE HealthCare Technologies by 27.2% during the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after purchasing an additional 9,809 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of GE HealthCare Technologies by 3.9% during the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after purchasing an additional 1,250 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GEHC shares. Evercore ISI lifted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Argus raised their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Mizuho dropped their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Citigroup increased their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Insider Buying and Selling at GE HealthCare Technologies

In related news, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other GE HealthCare Technologies news, insider Frank R. Jimenez purchased 1,315 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the acquisition, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now owns 67,300 shares in the company, valued at approximately $5,296,510. The disclosure for this sale can be found here. Insiders sold 90,482 shares of company stock valued at $7,369,137 in the last quarter. Company insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded down $0.26 during mid-day trading on Friday, hitting $76.98. The company’s stock had a trading volume of 763,532 shares, compared to its average volume of 3,153,866. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $35.14 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.78 and a beta of 1.20. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The stock’s fifty day moving average price is $79.13 and its two-hundred day moving average price is $81.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

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.