Avanza Fonder AB Acquires New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Avanza Fonder AB bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 29,460 shares of the company's stock, valued at approximately $2,303,000.

Several other institutional investors also recently made changes to their positions in GEHC. Mercer Global Advisors Inc. ADV grew its stake in GE HealthCare Technologies by 15.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,326 shares of the company's stock worth $1,931,000 after buying an additional 3,303 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of GE HealthCare Technologies by 16.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,771 shares of the company's stock valued at $528,000 after acquiring an additional 976 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in GE HealthCare Technologies by 10.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,684 shares of the company's stock valued at $2,391,000 after purchasing an additional 3,020 shares during the last quarter. Blair William & Co. IL boosted its stake in GE HealthCare Technologies by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 110,258 shares of the company's stock valued at $8,591,000 after purchasing an additional 294 shares during the period. Finally, Kentucky Retirement Systems grew its position in GE HealthCare Technologies by 3.9% in the 2nd quarter. Kentucky Retirement Systems now owns 31,990 shares of the company's stock worth $2,493,000 after purchasing an additional 1,213 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the 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 sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

GE HealthCare Technologies Trading Down 0.3 %

Shares of GE HealthCare Technologies stock traded down $0.26 on Friday, reaching $84.74. 2,855,039 shares of the company were exchanged, compared to its average volume of 2,724,028. GE HealthCare Technologies Inc. has a fifty-two week low of $71.31 and a fifty-two week high of $94.55. The firm has a market capitalization of $38.72 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $81.98 and a 200-day moving average price of $84.43.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. 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 prior year, the firm earned $0.99 EPS. The firm's quarterly revenue was up .9% on a year-over-year basis. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is an increase from GE HealthCare Technologies's previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies's dividend payout ratio is currently 3.85%.

Analyst Ratings Changes

GEHC has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. UBS Group lowered GE HealthCare Technologies from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $96.00.

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.