Nordea Investment Management AB Raises Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nordea Investment Management AB raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 30.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,632 shares of the company’s stock after purchasing an additional 10,116 shares during the period. Nordea Investment Management AB’s holdings in GE HealthCare Technologies were worth $3,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. LGT Financial Advisors LLC increased its holdings in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of GE HealthCare Technologies during the 2nd quarter worth about $26,000. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in GE HealthCare Technologies during the third quarter worth approximately $26,000. Finally, Elkhorn Partners Limited Partnership acquired a new position in GE HealthCare Technologies in the second quarter valued at approximately $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC opened at $84.76 on Friday. The business has a 50 day moving average price of $82.25 and a 200 day moving average price of $84.10. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The company has a market capitalization of $38.72 billion, a P/E ratio of 23.29, a PEG ratio of 2.90 and a beta of 1.11. GE HealthCare Technologies Inc. has a 1-year low of $71.31 and a 1-year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s revenue was up .9% on a year-over-year basis. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GEHC shares. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, September 30th. UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Wednesday, September 18th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $103.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

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.