Nykredit A S Makes New $5.83 Million Investment in GE HealthCare Technologies Inc. $GEHC

Key Points

• Nykredit A/S bought 91,022 shares of GE HealthCare Technologies in the second quarter, valued at approximately $5.83 million. Institutional investors and hedge funds 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.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and a consensus price target of $77.73; the company also pays a $0.14 annualized dividend yielding about 0.2%.

Nykredit A S purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 91,022 shares of the company's stock, valued at approximately $5,826,000.

Several other hedge funds have also made changes to their positions in the business. Auto Owners Insurance Co increased its stake in shares of GE HealthCare Technologies by 9,525.4% during the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company's stock valued at $278,725,000 after acquiring an additional 33,629,559 shares during the last quarter. Capital Research Global Investors boosted its position in shares of GE HealthCare Technologies by 1.6% in the fourth quarter. Capital Research Global Investors now owns 25,362,352 shares of the company's stock worth $2,080,248,000 after acquiring an additional 389,796 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in GE HealthCare Technologies by 13.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company's stock valued at $861,307,000 after purchasing an additional 1,571,226 shares during the period. Geode Capital Management LLC increased its position in GE HealthCare Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 12,112,503 shares of the company's stock worth $989,673,000 after purchasing an additional 37,159 shares during the last quarter. Finally, Norges Bank purchased a new position in GE HealthCare Technologies during the fourth quarter worth approximately $596,024,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 1.1%

Shares of GE HealthCare Technologies stock opened at $64.81 on Tuesday. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a market capitalization of $29.27 billion, a PE ratio of 14.86, a P/E/G ratio of 1.69 and a beta of 0.70. 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 moving average of $68.29 and a 200-day moving average of $67.55.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.13 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.29 billion for the quarter, compared to analysts' expectations of $5.26 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company's revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

Wall Street Analyst Weigh In

GEHC has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a "neutral" rating on shares of GE HealthCare Technologies in a report on Monday, June 8th. Citigroup raised their price objective on GE HealthCare Technologies from $69.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Oppenheimer reissued an "outperform" rating on shares of GE HealthCare Technologies in a research report on Thursday, July 30th. BMO Capital Markets started coverage on shares of GE HealthCare Technologies in a research note on Wednesday, July 8th. They set a "market perform" rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Ten investment 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 presently has an average rating of "Hold" and an average price target of $77.73.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology, pharmaceutical diagnostics and digital solutions company headquartered in Chicago, Illinois. The company provides products and services designed to support healthcare providers across diagnostic imaging, clinical care and treatment planning.

Its portfolio includes imaging systems such as magnetic resonance imaging, computed tomography, molecular imaging, X-ray and surgical imaging equipment. GE HealthCare also offers ultrasound systems, patient monitoring and care solutions, anesthesia delivery and respiratory care products, maternal and infant care technologies, and healthcare information technology.

The company's Pharmaceutical Diagnostics business develops and supplies contrast media and radiopharmaceuticals used to enhance medical imaging and support the detection and monitoring of disease.

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