Jennison Associates LLC Has $71.48 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jennison Associates LLC increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 56.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 761,618 shares of the company's stock after purchasing an additional 274,657 shares during the quarter. Jennison Associates LLC owned about 0.17% of GE HealthCare Technologies worth $71,478,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GEHC. Van ECK Associates Corp acquired a new position in shares of GE HealthCare Technologies during the third quarter valued at approximately $208,513,000. Swiss National Bank increased its position in shares of GE HealthCare Technologies by 0.5% during the 3rd quarter. Swiss National Bank now owns 1,287,187 shares of the company's stock valued at $120,802,000 after purchasing an additional 6,500 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of GE HealthCare Technologies by 18.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company's stock worth $97,088,000 after buying an additional 189,956 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company's stock valued at $95,952,000 after buying an additional 23,448 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in GE HealthCare Technologies by 1.9% during the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock valued at $94,780,000 after buying an additional 19,010 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GEHC. Stifel Nicolaus boosted their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. assumed coverage on shares of GE HealthCare Technologies in a report on Monday, September 9th. They issued a "neutral" rating and a $90.00 target price on the stock. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a "strong-buy" rating in a report on Thursday, August 1st. UBS Group cut GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price target for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, 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 research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $94.36.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, 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 SEC, which can be accessed through the SEC website. Insiders own 0.27% of the company's stock.

GE HealthCare Technologies Stock Up 2.9 %

GEHC stock opened at $84.90 on Thursday. The firm has a market cap of $38.79 billion, a PE ratio of 23.32, a PEG ratio of 2.96 and a beta of 1.24. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The company has a fifty day simple moving average of $88.54 and a 200 day simple moving average of $83.58. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.08. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 EPS. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Friday, October 18th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.30%.

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.