Geode Capital Management LLC Increases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Geode Capital Management LLC raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 7.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,977,757 shares of the company's stock after acquiring an additional 733,819 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of GE HealthCare Technologies worth $1,026,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $268,159,000. Van ECK Associates Corp purchased a new stake in GE HealthCare Technologies during the third quarter valued at approximately $208,513,000. State Street Corp lifted its position in GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company's stock worth $1,747,101,000 after buying an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in GE HealthCare Technologies in the 3rd quarter worth about $93,713,000. Finally, Marshall Wace LLP purchased a new stake in shares of GE HealthCare Technologies in the second quarter worth approximately $63,639,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Down 1.4 %

Shares of GEHC traded down $1.12 during midday trading on Thursday, reaching $81.63. The stock had a trading volume of 2,365,228 shares, compared to its average volume of 3,053,693. The company has a market cap of $37.29 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.91 and a beta of 1.08. 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's fifty day simple moving average is $86.21 and its two-hundred day simple moving average is $83.71. 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 - Get Free Report) last announced 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 period in the prior year, the company posted $0.99 earnings per share. The firm's quarterly revenue was up .9% compared to the same quarter last year. 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 business also recently declared 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 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's dividend payout ratio is 3.85%.

Analyst Ratings Changes

A number of research firms have weighed in on GEHC. Wells Fargo & Company increased their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. 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 research note on Tuesday, October 1st. UBS Group lowered GE HealthCare Technologies from a "neutral" rating to a "sell" rating and lowered their target price 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 for the company in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus lifted their price objective on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $95.46.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies 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 sale, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies 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.