Handelsbanken Fonder AB Acquires 78,554 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Handelsbanken Fonder AB lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 87.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,015 shares of the company’s stock after buying an additional 78,554 shares during the quarter. Handelsbanken Fonder AB’s holdings in GE HealthCare Technologies were worth $12,991,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GEHC. Vanguard Group Inc. raised its holdings in GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in GE HealthCare Technologies by 84.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after purchasing an additional 1,221,436 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in GE HealthCare Technologies by 1,323.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock worth $69,682,000 after purchasing an additional 952,182 shares during the last quarter. Invesco Ltd. raised its holdings in GE HealthCare Technologies by 21.4% during the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after purchasing an additional 889,297 shares during the last quarter. Finally, Nordea Investment Management AB bought a new stake in GE HealthCare Technologies during the 3rd quarter worth about $55,152,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $86.24 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05. The stock has a 50 day simple moving average of $88.84 and a 200 day simple moving average of $78.21. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The firm has a market capitalization of $39.35 billion, a PE ratio of 28.56, a P/E/G ratio of 2.93 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the firm earned $1.31 EPS. GE HealthCare Technologies’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.97%.

Analysts Set New Price Targets

Several brokerages have weighed in on GEHC. Citigroup boosted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Mizuho boosted their price objective on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. Evercore ISI boosted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, HSBC started coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.09.

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.