E Fund Management Co. Ltd. Acquires 294 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

E Fund Management Co. Ltd. lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,556 shares of the company’s stock after purchasing an additional 294 shares during the period. E Fund Management Co. Ltd.’s holdings in GE HealthCare Technologies were worth $507,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on GEHC shares. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $88.00 in a report on Monday, February 12th. Bank of America decreased their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. HSBC started coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Citigroup upped their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded down $0.32 on Wednesday, reaching $81.11. The company had a trading volume of 2,747,872 shares, compared to its average volume of 3,430,118. The stock has a market capitalization of $37.02 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.86 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The business’s 50-day moving average is $87.81 and its 200 day moving average is $79.30.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

Insider Activity

In other news, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

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.