Forsta AP Fonden Grows Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Forsta AP Fonden raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 22.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,775 shares of the company's stock after acquiring an additional 24,100 shares during the period. Forsta AP Fonden's holdings in GE HealthCare Technologies were worth $12,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GEHC. Vanguard Group Inc. increased its position in shares of GE HealthCare Technologies by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company's stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares during the last quarter. Bank of Montreal Can increased its position in shares of GE HealthCare Technologies by 27.5% during the 2nd quarter. Bank of Montreal Can now owns 696,446 shares of the company's stock valued at $54,964,000 after purchasing an additional 150,137 shares during the last quarter. Sei Investments Co. increased its position in shares of GE HealthCare Technologies by 30.6% during the 1st quarter. Sei Investments Co. now owns 279,336 shares of the company's stock valued at $25,393,000 after purchasing an additional 65,476 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of GE HealthCare Technologies by 7.1% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 235,436 shares of the company's stock valued at $21,403,000 after purchasing an additional 15,522 shares during the last quarter. Finally, BNP Paribas bought a new position in shares of GE HealthCare Technologies during the 1st quarter valued at approximately $30,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Down 0.5 %

Shares of GEHC stock traded down $0.48 during mid-day trading on Friday, hitting $88.42. The stock had a trading volume of 2,035,620 shares, compared to its average volume of 2,909,492. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.55. The firm has a market capitalization of $40.36 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18. The firm's 50-day moving average is $88.42 and its two-hundred day moving average is $83.41. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.82.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. GE HealthCare Technologies had a return on equity of 25.26% and a net margin of 8.10%. The business had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.88 billion. During the same period in the prior year, the business earned $0.92 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.51%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group downgraded GE HealthCare Technologies from a "neutral" rating to a "sell" rating and cut 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 target price on the stock in a research report on Wednesday, September 18th. Stifel Nicolaus boosted their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the company a "buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, Redburn Atlantic raised GE HealthCare Technologies to a "strong-buy" rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.23.

Insider Buying and Selling

In related news, CEO Thomas J. Westrick sold 2,750 shares of the company's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now directly owns 17,509 shares in the company, valued at $1,414,377.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.27% of the stock is currently owned by company 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.