Nordea Investment Management AB Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nordea Investment Management AB grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 30.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,632 shares of the company’s stock after purchasing an additional 10,116 shares during the period. Nordea Investment Management AB’s holdings in GE HealthCare Technologies were worth $3,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEHC. Quent Capital LLC boosted its holdings in GE HealthCare Technologies by 18.4% during the third quarter. Quent Capital LLC now owns 766 shares of the company’s stock worth $72,000 after buying an additional 119 shares in the last quarter. Greenleaf Trust boosted its stake in shares of GE HealthCare Technologies by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,619 shares of the company’s stock worth $715,000 after acquiring an additional 124 shares in the last quarter. Westside Investment Management Inc. grew its position in shares of GE HealthCare Technologies by 32.0% during the 3rd quarter. Westside Investment Management Inc. now owns 516 shares of the company’s stock valued at $48,000 after acquiring an additional 125 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of GE HealthCare Technologies by 8.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,590 shares of the company’s stock valued at $135,000 after purchasing an additional 127 shares in the last quarter. Finally, Quarry LP boosted its position in GE HealthCare Technologies by 28.3% during the second quarter. Quarry LP now owns 594 shares of the company’s stock worth $46,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $84.76 on Friday. The company’s 50 day simple moving average is $82.25 and its 200-day simple moving average is $84.10. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 1 year low of $71.31 and a 1 year high of $94.55. The company has a market capitalization of $38.72 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its 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. 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 for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a $0.035 dividend. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.85%.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEHC. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, September 18th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $95.00 to $103.00 in a research report on Wednesday. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group lowered GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $84.00 to $74.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $96.00.

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.