Forsta AP Fonden Buys 4,700 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Forsta AP Fonden lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,475 shares of the company’s stock after purchasing an additional 4,700 shares during the period. Forsta AP Fonden’s holdings in GE HealthCare Technologies were worth $10,826,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 251 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in GE HealthCare Technologies during the 3rd quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at $26,000. Darwin Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at $31,000. Finally, Continuum Advisory LLC boosted its position in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Roland Rott sold 3,577 shares of the company’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 sale, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Trading Up 1.9 %

Shares of GE HealthCare Technologies stock opened at $89.55 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The firm has a 50-day moving average of $82.76 and a 200-day moving average of $84.95. GE HealthCare Technologies Inc. has a 52-week low of $72.52 and a 52-week high of $94.55. The stock has a market cap of $40.91 billion, a PE ratio of 24.60, a PEG ratio of 2.88 and a beta of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data 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 net margin of 8.56% and a return on equity of 25.19%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be paid a $0.035 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is 3.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GEHC. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company increased their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

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.