Swedbank AB Invests $6.14 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Swedbank AB purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 67,520 shares of the company’s stock, valued at approximately $6,138,000.

A number of other hedge funds also recently modified their holdings of GEHC. Assenagon Asset Management S.A. raised its position in shares of GE HealthCare Technologies by 59.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 11,229 shares of the company’s stock worth $868,000 after purchasing an additional 4,178 shares during the period. DAVENPORT & Co LLC raised its position in GE HealthCare Technologies by 6.2% in the 4th quarter. DAVENPORT & Co LLC now owns 12,839 shares of the company’s stock valued at $993,000 after buying an additional 748 shares during the last quarter. Ballentine Partners LLC raised its position in GE HealthCare Technologies by 45.0% in the 4th quarter. Ballentine Partners LLC now owns 6,227 shares of the company’s stock valued at $481,000 after buying an additional 1,932 shares during the last quarter. International Assets Investment Management LLC raised its position in GE HealthCare Technologies by 8,158.8% in the 4th quarter. International Assets Investment Management LLC now owns 605,290 shares of the company’s stock valued at $46,801,000 after buying an additional 597,961 shares during the last quarter. Finally, Reliant Investment Management LLC raised its position in GE HealthCare Technologies by 1.6% in the 4th quarter. Reliant Investment Management LLC now owns 55,825 shares of the company’s stock valued at $4,316,000 after buying an additional 867 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GEHC shares. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 target price on the stock. Mizuho decreased their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Bank of America decreased their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Taha Kass-Hout sold 3,300 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $81.54, for a total value of $5,459,510.70. Following the transaction, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. 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 three months. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.04 during mid-day trading on Friday, hitting $83.44. 2,986,428 shares of the stock were exchanged, compared to its average volume of 2,926,614. The stock has a market capitalization of $38.10 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.17. The firm’s 50-day simple moving average is $78.91 and its 200 day simple moving average is $82.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $0.03 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 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.