Swedbank AB Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Swedbank AB lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 72,013 shares of the company’s stock after acquiring an additional 4,490 shares during the period. Swedbank AB’s holdings in GE HealthCare Technologies were worth $6,758,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. CMG Global Holdings LLC grew its holdings in shares of GE HealthCare Technologies by 2.3% during the third quarter. CMG Global Holdings LLC now owns 11,824 shares of the company’s stock valued at $1,110,000 after buying an additional 271 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in GE HealthCare Technologies by 5.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 10,624 shares of the company’s stock worth $997,000 after acquiring an additional 545 shares during the period. Cerity Partners LLC grew its stake in GE HealthCare Technologies by 24.2% during the 3rd quarter. Cerity Partners LLC now owns 67,896 shares of the company’s stock valued at $6,372,000 after purchasing an additional 13,228 shares during the last quarter. Certified Advisory Corp increased its holdings in shares of GE HealthCare Technologies by 69.9% in the third quarter. Certified Advisory Corp now owns 4,642 shares of the company’s stock valued at $436,000 after purchasing an additional 1,910 shares during the period. Finally, Leelyn Smith LLC purchased a new position in shares of GE HealthCare Technologies in the third quarter worth about $3,845,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by company insiders.

GE HealthCare Technologies Trading Up 0.6 %

Shares of GEHC stock opened at $83.00 on Thursday. GE HealthCare Technologies Inc. has a 1-year low of $66.39 and a 1-year high of $94.55. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a 50 day simple moving average of $88.19 and a 200-day simple moving average of $83.61.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.30%.

Wall Street Analyst Weigh In

GEHC has been the topic of several research reports. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. 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 report on Tuesday, October 1st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.36.

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.