GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Boosted by Shell Asset Management Co.

Shell Asset Management Co. raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 60.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,917 shares of the company’s stock after buying an additional 7,500 shares during the quarter. Shell Asset Management Co.’s holdings in GE HealthCare Technologies were worth $1,540,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in shares of GE HealthCare Technologies by 49.4% in the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after purchasing an additional 399,961 shares during the period. South Dakota Investment Council increased its position in shares of GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after purchasing an additional 71,857 shares during the period. US Bancorp DE increased its position in shares of GE HealthCare Technologies by 83.4% during the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after purchasing an additional 66,638 shares during the period. Cerity Partners LLC boosted its stake in GE HealthCare Technologies by 27.2% in the 4th quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after buying an additional 9,809 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in GE HealthCare Technologies by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after buying an additional 1,250 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

Insider Transactions at GE HealthCare Technologies

In related news, insider Frank R. Jimenez acquired 1,315 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a filing with the SEC, which is available at this link. In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the sale, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jimenez acquired 1,315 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were purchased at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 90,482 shares of company stock worth $7,369,137. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of recent analyst reports. Mizuho reduced their price objective on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Bank of America reduced their price objective on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Argus increased their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. The Goldman Sachs Group began coverage on GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Morgan Stanley increased their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.09.

View Our Latest Report on GEHC

GE HealthCare Technologies Trading Down 0.7 %

Shares of GEHC stock opened at $75.78 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The company has a market capitalization of $34.59 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 2.75 and a beta of 1.22. The business’s fifty day moving average is $82.36 and its 200 day moving average is $81.06.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

GE HealthCare Technologies Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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