6,248,800 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Acquired by Norges Bank

Norges Bank acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,248,800 shares of the company’s stock, valued at approximately $488,531,000. Norges Bank owned approximately 1.37% of GE HealthCare Technologies at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. FMR LLC raised its stake in GE HealthCare Technologies by 4.1% during the 3rd quarter. FMR LLC now owns 2,165,826 shares of the company’s stock worth $203,263,000 after acquiring an additional 84,411 shares in the last quarter. Townsquare Capital LLC increased its position in shares of GE HealthCare Technologies by 21.5% during the third quarter. Townsquare Capital LLC now owns 7,722 shares of the company’s stock worth $725,000 after purchasing an additional 1,366 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of GE HealthCare Technologies by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 30,173 shares of the company’s stock valued at $2,832,000 after purchasing an additional 180 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at about $2,799,000. Finally, CreativeOne Wealth LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $259,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. Finally, Wells Fargo & Company raised their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $80.01 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80. The company has a market cap of $36.59 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The business has a fifty day moving average of $86.70 and a two-hundred day moving average of $85.86.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. As a group, analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is presently 3.23%.

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.