Assenagon Asset Management S.A. Buys 222,446 Shares of GE HealthCare Technologies Inc. $GEHC

Assenagon Asset Management S.A. grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1,606.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,295 shares of the company's stock after buying an additional 222,446 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of GE HealthCare Technologies worth $15,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. boosted its holdings in shares of GE HealthCare Technologies by 86.2% in the third quarter. Mather Group LLC. now owns 85,945 shares of the company's stock worth $5,618,000 after buying an additional 39,796 shares during the last quarter. Fortitude Family Office LLC increased its holdings in GE HealthCare Technologies by 249.1% during the third quarter. Fortitude Family Office LLC now owns 597 shares of the company's stock valued at $39,000 after buying an additional 426 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in GE HealthCare Technologies by 2.2% during the third quarter. Salem Investment Counselors Inc. now owns 184,230 shares of the company's stock valued at $12,043,000 after buying an additional 3,948 shares during the last quarter. Perpetual Ltd raised its position in GE HealthCare Technologies by 107.4% in the third quarter. Perpetual Ltd now owns 2,712,232 shares of the company's stock worth $177,299,000 after acquiring an additional 1,404,683 shares during the period. Finally, Wedmont Private Capital raised its position in GE HealthCare Technologies by 80.3% in the third quarter. Wedmont Private Capital now owns 7,550 shares of the company's stock worth $485,000 after acquiring an additional 3,362 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GEHC. Oppenheimer reiterated an "outperform" rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Evercore reaffirmed an "outperform" rating and issued a $84.00 target price on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Citigroup lowered their target price on GE HealthCare Technologies from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. BTIG Research cut their price target on GE HealthCare Technologies from $79.00 to $75.00 and set a "buy" rating for the company in a report on Monday, October 12th. Finally, Zacks Research raised GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.35.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $69.76 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The firm has a fifty day moving average price of $68.47 and a 200 day moving average price of $66.77. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77. The firm has a market cap of $31.51 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.84 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. GE HealthCare Technologies's payout ratio is 3.21%.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company's portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.

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