GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,582 shares of the company’s stock after purchasing an additional 6,257 shares during the period. DnB Asset Management AS’s holdings in GE HealthCare Technologies were worth $6,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEHC. Pictet Asset Management Holding SA grew its stake in shares of GE HealthCare Technologies by 27.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 285,538 shares of the company’s stock valued at $22,323,000 after purchasing an additional 61,667 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of GE HealthCare Technologies by 3.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 150,331 shares of the company’s stock worth $11,753,000 after purchasing an additional 4,335 shares during the period. Norges Bank purchased a new position in GE HealthCare Technologies in the 4th quarter valued at $488,531,000. Caisse Des Depots ET Consignations acquired a new position in GE HealthCare Technologies in the 4th quarter valued at $336,000. Finally, Homestead Advisers Corp increased its stake in GE HealthCare Technologies by 43.2% in the 4th quarter. Homestead Advisers Corp now owns 513,100 shares of the company’s stock valued at $40,114,000 after buying an additional 154,700 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GEHC has been the subject of several analyst reports. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Finally, Citigroup lifted their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average price target of $98.75.

GE HealthCare Technologies Price Performance

GEHC stock opened at $80.01 on Monday. The stock has a market capitalization of $36.59 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The stock’s fifty day simple moving average is $86.70 and its 200-day simple moving average is $85.86. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.23%.

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.