Forsta AP Fonden Grows Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Forsta AP Fonden boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 30.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,675 shares of the company’s stock after buying an additional 25,500 shares during the quarter. Forsta AP Fonden’s holdings in GE HealthCare Technologies were worth $8,546,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of GE HealthCare Technologies in the first quarter worth approximately $25,000. BNP Paribas acquired a new stake in GE HealthCare Technologies during the 1st quarter worth $30,000. Sachetta LLC purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $31,000. Rise Advisors LLC raised its position in shares of GE HealthCare Technologies by 241.4% in the first quarter. Rise Advisors LLC now owns 338 shares of the company’s stock valued at $31,000 after buying an additional 239 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of GE HealthCare Technologies in the first quarter worth about $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GE HealthCare Technologies

In related news, CEO Thomas J. Westrick sold 2,750 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GEHC. Stifel Nicolaus started coverage on shares of GE HealthCare Technologies in a report on Tuesday, August 6th. They issued a “buy” rating and a $100.00 price objective for the company. The Goldman Sachs Group initiated coverage on GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price target for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price for the company. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus target price of $94.58.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $86.91 on Friday. The stock has a fifty day simple moving average of $83.05 and a 200-day simple moving average of $83.48. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a market cap of $39.69 billion, a PE ratio of 25.41, a P/E/G ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50.

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

GE HealthCare Technologies Dividend Announcement

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

About GE HealthCare Technologies

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.