7,266,808 Shares in GE HealthCare Technologies Inc. $GEHC Purchased by Norges Bank

Key Points

• Norges Bank opened a large new position in GE HealthCare Technologies, buying 7,266,808 shares worth about $596 million in the fourth quarter. The stake represented roughly 1.59% of the company.
• Several other institutional investors also increased their holdings, and about 82.06% of GE HealthCare’s shares are now owned by hedge funds and other institutions. Insider buying has also picked up, with directors Rodney F. Hochman and Kevin Lobo among those purchasing shares.
• GE HealthCare recently reported Q1 earnings of $0.99 per share, missing estimates, though revenue of $5.13 billion topped expectations. Analysts have trimmed price targets, with the stock currently carrying a Moderate Buy consensus and an average target of $80.21.

Norges Bank purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,266,808 shares of the company's stock, valued at approximately $596,024,000. Norges Bank owned about 1.59% of GE HealthCare Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Western Wealth Management LLC boosted its holdings in shares of GE HealthCare Technologies by 2.4% in the 4th quarter. Western Wealth Management LLC now owns 5,240 shares of the company's stock worth $430,000 after buying an additional 125 shares during the last quarter. United Community Bank boosted its holdings in shares of GE HealthCare Technologies by 10.2% in the 4th quarter. United Community Bank now owns 1,410 shares of the company's stock worth $116,000 after buying an additional 130 shares during the last quarter. Thoma Capital Management LLC raised its stake in GE HealthCare Technologies by 1.4% in the 4th quarter. Thoma Capital Management LLC now owns 9,918 shares of the company's stock valued at $814,000 after acquiring an additional 136 shares during the period. Colonial Trust Advisors raised its stake in GE HealthCare Technologies by 11.1% in the 3rd quarter. Colonial Trust Advisors now owns 1,391 shares of the company's stock valued at $104,000 after acquiring an additional 139 shares during the period. Finally, Norinchukin Bank The raised its stake in GE HealthCare Technologies by 0.4% in the 3rd quarter. Norinchukin Bank The now owns 38,913 shares of the company's stock valued at $2,922,000 after acquiring an additional 149 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, Director Rodney F. Hochman acquired 1,618 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $62.03 per share, with a total value of $100,364.54. Following the completion of the acquisition, the director owned 1,618 shares of the company's stock, valued at $100,364.54. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin Lobo acquired 10,000 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $64.18 per share, with a total value of $641,800.00. Following the acquisition, the director directly owned 14,363 shares of the company's stock, valued at $921,817.34. This represents a 229.20% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 21,847 shares of company stock valued at $1,361,355 in the last ninety days. Insiders own 0.36% of the company's stock.

GE HealthCare Technologies Price Performance

GEHC stock opened at $62.34 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.22 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $28.36 billion, a PE ratio of 14.91, a PEG ratio of 1.40 and a beta of 0.74. GE HealthCare Technologies Inc. has a twelve month low of $58.75 and a twelve month high of $89.77. The stock has a 50-day simple moving average of $67.68 and a two-hundred day simple moving average of $75.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.08). GE HealthCare Technologies had a net margin of 9.10% and a return on equity of 20.46%. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the previous year, the firm earned $1.01 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. GE HealthCare Technologies has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Wells Fargo & Company lowered their price objective on GE HealthCare Technologies from $97.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Stifel Nicolaus set a $80.00 price objective on GE HealthCare Technologies in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price objective on GE HealthCare Technologies from $80.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group cut GE HealthCare Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $81.00 to $65.00 in a research note on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus target price of $80.21.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies NASDAQ: GEHC is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.

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