Swiss National Bank Sells 36,300 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Swiss National Bank lowered its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,280,087 shares of the company’s stock after selling 36,300 shares during the period. Swiss National Bank owned about 0.28% of GE HealthCare Technologies worth $98,976,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GEHC. Commonwealth Equity Services LLC boosted its stake in GE HealthCare Technologies by 9.2% in the third quarter. Commonwealth Equity Services LLC now owns 124,500 shares of the company’s stock valued at $8,471,000 after acquiring an additional 10,515 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in GE HealthCare Technologies by 69.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 78,493 shares of the company’s stock worth $5,341,000 after buying an additional 32,051 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of GE HealthCare Technologies by 10.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 103,284 shares of the company’s stock valued at $7,027,000 after buying an additional 10,101 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of GE HealthCare Technologies by 55.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 11,978 shares of the company’s stock valued at $815,000 after buying an additional 4,284 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in GE HealthCare Technologies by 16.8% in the 3rd quarter. Raymond James & Associates now owns 329,514 shares of the company’s stock worth $22,420,000 after acquiring an additional 47,456 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GEHC shares. Citigroup increased their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Morgan Stanley lifted their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. HSBC initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Bank of America reduced 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 research note on Wednesday. Finally, Evercore ISI increased their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $79.47 on Friday. The company’s fifty day simple moving average is $88.25 and its two-hundred day simple moving average is $78.89. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The firm has a market cap of $36.27 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.86 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.51%.

Insider Activity

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the completion of the acquisition, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

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.