DekaBank Deutsche Girozentrale Lowers Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

DekaBank Deutsche Girozentrale cut its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,371 shares of the company’s stock after selling 14,778 shares during the period. DekaBank Deutsche Girozentrale’s holdings in GE HealthCare Technologies were worth $4,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEHC. Modera Wealth Management LLC grew its stake in GE HealthCare Technologies by 64.6% in the 3rd quarter. Modera Wealth Management LLC now owns 7,146 shares of the company’s stock worth $671,000 after acquiring an additional 2,804 shares in the last quarter. Forsta AP Fonden grew its stake in GE HealthCare Technologies by 22.0% in the third quarter. Forsta AP Fonden now owns 133,775 shares of the company’s stock worth $12,555,000 after purchasing an additional 24,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in GE HealthCare Technologies by 20.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 114,420 shares of the company’s stock worth $10,525,000 after purchasing an additional 19,609 shares during the period. Louisiana State Employees Retirement System raised its position in GE HealthCare Technologies by 0.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 60,500 shares of the company’s stock valued at $5,678,000 after purchasing an additional 200 shares in the last quarter. Finally, CWC Advisors LLC. purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth $946,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GEHC. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday. Stifel Nicolaus increased their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Redburn Atlantic raised shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, BTIG Research raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.36.

Insider Activity

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total value of $222,145.00. Following the sale, the chief executive officer now owns 17,509 shares in the company, valued at $1,414,377.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC opened at $87.35 on Friday. The company has a market cap of $39.89 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $88.57 and its 200-day moving average price is $83.44. GE HealthCare Technologies Inc. has a 52-week low of $65.77 and a 52-week high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.26 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is presently 3.30%.

GE HealthCare Technologies Company 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.