KLP Kapitalforvaltning AS Purchases 24,900 Shares of GE HealthCare Technologies Inc. $GEHC

KLP Kapitalforvaltning AS raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 15.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,479 shares of the company’s stock after purchasing an additional 24,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in GE HealthCare Technologies were worth $13,442,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GEHC. JPMorgan Chase & Co. increased its stake in GE HealthCare Technologies by 49.9% in the first quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company’s stock valued at $414,894,000 after purchasing an additional 1,711,963 shares in the last quarter. Nuveen LLC bought a new stake in GE HealthCare Technologies in the first quarter valued at approximately $77,058,000. Eminence Capital LP increased its stake in GE HealthCare Technologies by 38.7% in the first quarter. Eminence Capital LP now owns 1,819,129 shares of the company’s stock valued at $146,822,000 after purchasing an additional 507,101 shares in the last quarter. Homestead Advisers Corp increased its stake in GE HealthCare Technologies by 92.7% in the first quarter. Homestead Advisers Corp now owns 988,600 shares of the company’s stock valued at $79,790,000 after purchasing an additional 475,500 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in GE HealthCare Technologies by 15.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,111,398 shares of the company’s stock valued at $251,121,000 after purchasing an additional 409,636 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GEHC shares. Morgan Stanley set a $74.00 target price on shares of GE HealthCare Technologies in a research note on Thursday, September 18th. Wall Street Zen downgraded shares of GE HealthCare Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. Citigroup downgraded shares of GE HealthCare Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $93.00 to $83.00 in a research report on Tuesday. Zacks Research downgraded shares of GE HealthCare Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GE HealthCare Technologies in a research report on Saturday, September 27th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.78.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $75.13 on Thursday. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a fifty day simple moving average of $74.22 and a 200 day simple moving average of $72.47. The stock has a market capitalization of $34.30 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.85 and a beta of 1.13. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.91 by $0.15. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. GE HealthCare Technologies has set its FY 2025 guidance at 4.430-4.630 EPS. Research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, October 24th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 2.87%.

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.