Nykredit A S Invests $6.41 Million in GE HealthCare Technologies Inc. $GEHC

Key Points

• Nykredit A/S acquired 100,673 GE HealthCare shares worth approximately $6.41 million in the second quarter. Institutional investors collectively own 82.06% of the company.
• GE HealthCare exceeded quarterly expectations, reporting $1.13 in EPS versus the $1.04 consensus and $5.29 billion in revenue, up 5.8% year over year.
• Analyst sentiment is mixed but broadly positive, with 10 Buy and 11 Hold ratings and an average price target of $77.73, compared with the stock’s reported price of $68.86.

Nykredit A S acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 100,673 shares of the company's stock, valued at approximately $6,405,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEHC. Auto Owners Insurance Co raised its position in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock valued at $278,725,000 after purchasing an additional 33,629,559 shares in the last quarter. Dodge & Cox boosted its holdings in shares of GE HealthCare Technologies by 13.4% in the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company's stock worth $2,559,945,000 after purchasing an additional 3,693,918 shares in the last quarter. Capital Research Global Investors increased its position in shares of GE HealthCare Technologies by 1.6% during the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock valued at $2,080,248,000 after purchasing an additional 389,796 shares during the last quarter. State Street Corp increased its position in shares of GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company's stock valued at $1,644,475,000 after purchasing an additional 401,932 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock valued at $861,307,000 after buying an additional 1,571,226 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GEHC opened at $68.86 on Monday. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The business has a 50 day simple moving average of $68.29 and a two-hundred day simple moving average of $68.93. The firm has a market capitalization of $31.10 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.82 and a beta of 0.70.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the company earned $1.06 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, July 24th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.21%.

Analysts Set New Price Targets

GEHC has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Zacks Research raised shares of GE HealthCare Technologies from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Evercore restated an "outperform" rating and issued a $84.00 price objective on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Royal Bank Of Canada began coverage on shares of GE HealthCare Technologies in a research note on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 price objective for the company. Finally, BTIG Research reaffirmed a "buy" rating and set a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $77.73.

About GE HealthCare Technologies

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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