Dai ichi Life Insurance Company Ltd Raises Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Dai ichi Life Insurance Company Ltd raised its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 99.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,468 shares of the company's stock after acquiring an additional 7,706 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in GE HealthCare Technologies were worth $1,452,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies during the 1st quarter valued at $25,000. LGT Financial Advisors LLC increased its position in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 251 shares during the last quarter. Fred Alger Management LLC purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GEHC shares. UBS Group lowered GE HealthCare Technologies from a "neutral" rating to a "sell" rating and decreased their target price for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. BTIG Research raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. Evercore ISI lifted their price objective on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average target price of $94.36.

GE HealthCare Technologies Price Performance

NASDAQ GEHC traded up $0.49 during trading hours on Thursday, hitting $83.00. The company had a trading volume of 1,807,975 shares, compared to its average volume of 3,079,142. GE HealthCare Technologies Inc. has a 52 week low of $66.39 and a 52 week high of $94.55. The firm has a 50 day simple moving average of $88.07 and a 200 day simple moving average of $83.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.96 and a beta of 1.24.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company posted $0.99 EPS. The company's revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share 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. Stockholders of record on Tuesday, January 14th will be issued a dividend of $0.035 per share. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies's payout ratio is presently 3.30%.

Insider Transactions at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now owns 24,298 shares of the company's stock, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

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.