Danske Bank A S Trims Stake in GE HealthCare Technologies Inc. $GEHC

Danske Bank A S lessened its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,256 shares of the company’s stock after selling 11,100 shares during the quarter. Danske Bank A S’s holdings in GE HealthCare Technologies were worth $12,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in GE HealthCare Technologies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 52,275,767 shares of the company’s stock worth $4,287,658,000 after buying an additional 267,058 shares in the last quarter. Auto Owners Insurance Co lifted its position in shares of GE HealthCare Technologies by 9,525.4% during the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after buying an additional 33,629,559 shares in the last quarter. Dodge & Cox lifted its position in shares of GE HealthCare Technologies by 13.4% during the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock valued at $2,559,945,000 after buying an additional 3,693,918 shares in the last quarter. Capital Research Global Investors grew its stake in shares of GE HealthCare Technologies by 1.6% during the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock valued at $2,080,248,000 after acquiring an additional 389,796 shares during the period. Finally, State Street Corp grew its stake in shares of GE HealthCare Technologies by 2.0% during the 4th quarter. State Street Corp now owns 20,049,677 shares of the company’s stock valued at $1,644,475,000 after acquiring an additional 401,932 shares during the period. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GEHC shares. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Jefferies Financial Group dropped their price target on shares of GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. The Goldman Sachs Group restated a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Oppenheimer restated an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Price Performance

GEHC stock opened at $74.06 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.26. The company’s fifty day moving average price is $66.41 and its 200-day moving average price is $69.56. GE HealthCare Technologies Inc. has a one year low of $58.75 and a one year high of $89.77. The company has a market capitalization of $33.45 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.69.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. GE HealthCare Technologies’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.06 earnings per share. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.93 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 24th were given a dividend of $0.035 per share. The ex-dividend date was Friday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.21%.

GE HealthCare Technologies Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.