GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 56.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 761,618 shares of the company’s stock after buying an additional 274,657 shares during the quarter. Jennison Associates LLC’s holdings in GE HealthCare Technologies were worth $71,478,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $208,513,000. Marshall Wace LLP acquired a new position in shares of GE HealthCare Technologies during the second quarter worth $63,639,000. Jacobs Levy Equity Management Inc. increased its holdings in GE HealthCare Technologies by 4,959.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after buying an additional 743,523 shares during the last quarter. International Assets Investment Management LLC raised its stake in GE HealthCare Technologies by 10,227.3% in the third quarter. International Assets Investment Management LLC now owns 621,913 shares of the company’s stock valued at $58,367,000 after buying an additional 615,891 shares in the last quarter. Finally, Steadfast Capital Management LP lifted its holdings in GE HealthCare Technologies by 182.0% during the 1st quarter. Steadfast Capital Management LP now owns 840,356 shares of the company’s stock worth $76,397,000 after buying an additional 542,356 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total transaction of $309,338.96. Following the completion of the transaction, the chief executive officer now owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GEHC shares. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, BTIG Research raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $84.90 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 12-month low of $66.39 and a 12-month high of $94.55. The company has a market cap of $38.79 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. The stock has a 50 day simple moving average of $88.54 and a 200-day simple moving average of $83.58.

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

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 3.30%.

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.