GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,961 shares of the company’s stock after acquiring an additional 947 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in GE HealthCare Technologies were worth $559,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GEHC. LGT Financial Advisors LLC grew its position in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth $26,000. Pathway Financial Advisers LLC purchased a new stake in shares of GE HealthCare Technologies during the first quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at $26,000. Finally, Fred Alger Management LLC purchased a new position in GE HealthCare Technologies in the 2nd quarter worth $26,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on GE HealthCare Technologies in a report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price objective on the stock. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Redburn Atlantic upgraded shares of GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. UBS Group cut shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $84.00 to $74.00 in a report on Thursday, September 26th. Finally, Stifel Nicolaus upped their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Price Performance

GEHC stock traded down $1.28 during mid-day trading on Wednesday, reaching $83.64. 519,929 shares of the company’s stock were exchanged, compared to its average volume of 3,033,435. The company has a market cap of $38.21 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 3.06 and a beta of 1.24. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The stock’s 50 day moving average is $88.92 and its 200 day moving average is $83.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.29 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.30%.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at $2,101,291.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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.