Norges Bank Buys New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Norges Bank acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,248,800 shares of the company's stock, valued at approximately $488,531,000. Norges Bank owned 1.37% of GE HealthCare Technologies at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GEHC. Cherry Creek Investment Advisors Inc. raised its stake in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock valued at $2,920,000 after acquiring an additional 114 shares during the last quarter. Independence Bank of Kentucky raised its position in GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock worth $158,000 after purchasing an additional 114 shares during the last quarter. Haverford Trust Co lifted its holdings in GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after buying an additional 115 shares during the period. Tandem Capital Management Corp ADV lifted its holdings in GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock worth $2,205,000 after buying an additional 118 shares during the period. Finally, Arcus Capital Partners LLC grew its position in shares of GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after buying an additional 119 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Finally, Citigroup upped their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $98.75.

GE HealthCare Technologies Stock Up 0.9 %

Shares of GEHC traded up $0.70 during trading hours on Monday, hitting $80.71. The stock had a trading volume of 4,151,176 shares, compared to its average volume of 2,938,521. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. The firm has a market capitalization of $36.91 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The firm has a 50 day simple moving average of $86.70 and a 200-day simple moving average of $85.86. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's payout ratio is presently 3.23%.

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.