PensionDanmark Pensionsforsikringsaktieselskab Has $6.24 Million Stake in GE HealthCare Technologies Inc. $GEHC

Key Points

• PensionDanmark increased its GE HealthCare stake by 39.7% in the second quarter, adding 27,700 shares to own 97,524 shares valued at approximately $6.24 million. Institutional investors collectively hold 82.06% of the company.
• Analyst sentiment is mixed, with 10 Buy, 10 Hold and one Sell rating; the consensus rating is Hold with an average price target of $77.73.
• GE HealthCare reported quarterly earnings of $1.13 per share, beating estimates of $1.04, while revenue rose 5.8% year over year to $5.29 billion. Directors Kevin Lobo and Rodney F. Hochman also purchased company shares.

PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 39.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,524 shares of the company's stock after buying an additional 27,700 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in GE HealthCare Technologies were worth $6,243,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Western Wealth Management LLC increased its holdings in shares of GE HealthCare Technologies by 2.4% in the fourth quarter. Western Wealth Management LLC now owns 5,240 shares of the company's stock valued at $430,000 after purchasing an additional 125 shares in the last quarter. United Community Bank lifted its holdings in GE HealthCare Technologies by 10.2% during 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 in the last quarter. Parkside Financial Bank & Trust boosted its position in GE HealthCare Technologies by 3.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,567 shares of the company's stock valued at $293,000 after buying an additional 134 shares during the last quarter. Quadrant Capital Group LLC boosted its position in GE HealthCare Technologies by 1.1% in the 4th quarter. Quadrant Capital Group LLC now owns 12,557 shares of the company's stock valued at $1,030,000 after buying an additional 140 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD increased its stake in shares of GE HealthCare Technologies by 0.8% in the 1st quarter. Mount Vernon Associates Inc. MD now owns 18,165 shares of the company's stock valued at $1,293,000 after buying an additional 144 shares during the period. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

GEHC has been the subject of a number of research reports. Royal Bank Of Canada began coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an "outperform" rating and a $80.00 price objective for the company. BNP Paribas Exane reduced their target price on shares of GE HealthCare Technologies from $95.00 to $88.00 in a research note on Friday, May 1st. Rothschild & Co Redburn lowered their price target on shares of GE HealthCare Technologies from $110.00 to $98.00 in a research report on Thursday, April 30th. Barclays cut their price objective on shares of GE HealthCare Technologies from $87.00 to $78.00 and set an "equal weight" rating on the stock in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $80.00 price objective on shares of GE HealthCare Technologies in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, GE HealthCare Technologies has an average rating of "Hold" and an average price target of $77.73.

Insider Transactions at GE HealthCare Technologies

In other news, Director Kevin Lobo purchased 10,000 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $64.18 per share, for a total transaction of $641,800.00. Following the completion of the acquisition, the director directly owned 14,363 shares in the company, valued at approximately $921,817.34. This trade represents a 229.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodney F. Hochman bought 1,618 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $62.03 per share, for a total transaction of $100,364.54. Following the transaction, the director owned 1,618 shares in the company, valued at $100,364.54. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.36% of the stock is currently owned by corporate insiders.

GE HealthCare Technologies Stock Up 2.1%

Shares of GE HealthCare Technologies stock opened at $71.77 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77. The business has a 50-day moving average of $64.72 and a two-hundred day moving average of $70.07. The company has a market capitalization of $32.42 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97.

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 for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 earnings per share. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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

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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