Swedbank AB Acquires 4,490 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Swedbank AB lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,013 shares of the company’s stock after buying 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 reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Pathway Financial Advisers LLC purchased a new stake in GE HealthCare Technologies during the first quarter valued at approximately $25,000. LGT Financial Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 1,673.3% in the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the period. Fred Alger Management LLC bought a new position in shares of GE HealthCare Technologies during the 2nd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in GE HealthCare Technologies during the 3rd quarter valued at $26,000. Finally, Ashton Thomas Securities LLC bought a new stake in GE HealthCare Technologies in the third quarter worth $26,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GEHC. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

Insider Buying and Selling

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

GE HealthCare Technologies Stock Up 0.6 %

Shares of GE HealthCare Technologies 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 debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock 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 firm’s 50-day moving average is $88.19 and its two-hundred day moving average is $83.61.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. GE HealthCare Technologies’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. As a group, research 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 business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. This is a positive change 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%.

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.