Norden Group LLC Invests $1.29 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)


Norden Group LLC bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,196 shares of the company’s stock, valued at approximately $1,291,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors boosted its holdings in shares of GE HealthCare Technologies by 2.8% during the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock worth $3,969,975,000 after buying an additional 1,401,566 shares during the period. Vanguard Group Inc. boosted its holdings in shares of GE HealthCare Technologies by 14.7% during the 3rd 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 period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of GE HealthCare Technologies by 9.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock worth $426,186,000 after buying an additional 471,910 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of GE HealthCare Technologies by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,454,690 shares of the company’s stock worth $267,121,000 after buying an additional 504,287 shares during the period. Finally, Norges Bank bought a new stake in shares of GE HealthCare Technologies during the 4th quarter worth about $229,052,000. Institutional investors own 82.06% of the company’s stock.

Insider Transactions at GE HealthCare Technologies

In other news, CEO Jan Makela sold 20,227 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jan Makela sold 20,227 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.57, for a total value of $1,649,916.39. Following the completion of the transaction, the chief executive officer now owns 63,348 shares of the company’s stock, valued at $5,167,296.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total value of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is currently owned by insiders.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $77.06 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The stock has a market capitalization of $35.17 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 2.78 and a beta of 1.20. The stock has a fifty day moving average of $78.94 and a 200-day moving average of $81.81.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting the consensus estimate of $0.90. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.51%.

Analyst Ratings Changes

GEHC has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Bank of America cut their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Mizuho cut their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Citigroup boosted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $94.09.

Check Out Our Latest Stock Report on GEHC

GE HealthCare Technologies Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)



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