Royal London Asset Management Ltd. Boosts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Royal London Asset Management Ltd. lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,635 shares of the company’s stock after buying an additional 3,862 shares during the quarter. Royal London Asset Management Ltd.’s holdings in GE HealthCare Technologies were worth $13,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GEHC. US Bancorp DE increased its holdings in GE HealthCare Technologies by 83.4% during the 4th quarter. US Bancorp DE now owns 146,524 shares of the company’s stock worth $11,329,000 after purchasing an additional 66,638 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in GE HealthCare Technologies by 23.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 97,127 shares of the company’s stock worth $7,510,000 after purchasing an additional 18,634 shares during the period. Global Assets Advisory LLC purchased a new stake in GE HealthCare Technologies during the 1st quarter worth about $4,273,000. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of GE HealthCare Technologies by 21.1% in the 4th quarter. Hsbc Holdings PLC now owns 470,993 shares of the company’s stock valued at $36,408,000 after acquiring an additional 81,916 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now directly owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

GE HealthCare Technologies Stock Up 0.3 %

Shares of NASDAQ GEHC opened at $87.46 on Friday. The stock has a market cap of $39.92 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The business has a 50-day moving average price of $82.85 and a 200 day moving average price of $83.50.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $0.03 per share. The ex-dividend date was Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.51%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GEHC shares. Stifel Nicolaus started coverage on GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective on the stock. The Goldman Sachs Group started coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective on the stock. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. started coverage on GE HealthCare Technologies in a report on Monday. They issued a “neutral” rating and a $90.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.58.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.