Avanza Fonder AB Invests $2.30 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avanza Fonder AB bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,460 shares of the company’s stock, valued at approximately $2,303,000.

Several other institutional investors also recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. increased its holdings in shares of GE HealthCare Technologies by 39.6% in the third quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after purchasing an additional 1,159 shares during the period. LMR Partners LLP acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $7,387,000. Principal Financial Group Inc. increased its holdings in shares of GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after acquiring an additional 19,010 shares during the last quarter. Everence Capital Management Inc. raised its position in shares of GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after acquiring an additional 10,220 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in GE HealthCare Technologies during the third quarter worth $1,396,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GEHC shares. Evercore ISI boosted their target price on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $96.00.

GE HealthCare Technologies Stock Down 0.3 %

Shares of GEHC stock opened at $84.74 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The stock has a market cap of $38.72 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. The business’s fifty day moving average is $81.98 and its 200-day moving average is $84.38. GE HealthCare Technologies Inc. has a 1 year low of $71.31 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the business earned $0.99 earnings per share. GE HealthCare Technologies’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is presently 3.30%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

About GE HealthCare Technologies

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.