Van ECK Associates Corp Invests $4.48 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Van ECK Associates Corp acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 57,881 shares of the company’s stock, valued at approximately $4,475,000.

Several other institutional investors have also modified their holdings of GEHC. Vanguard Group Inc. lifted its stake in shares of GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Ameriprise Financial Inc. lifted its position in GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after buying an additional 1,221,436 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in GE HealthCare Technologies by 1,323.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock valued at $69,682,000 after buying an additional 952,182 shares during the last quarter. Invesco Ltd. increased its position in shares of GE HealthCare Technologies by 21.4% during the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after acquiring an additional 889,297 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of GE HealthCare Technologies during the third quarter valued at about $55,152,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GEHC. Bank of America decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. HSBC initiated coverage on GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective for the company. Evercore ISI boosted their price objective on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Finally, Citigroup boosted their price objective 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Trading Up 2.1 %

GEHC opened at $79.47 on Monday. 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 Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The business’s 50 day moving average is $88.25 and its two-hundred day moving average is $79.07. The firm has a market cap of $36.27 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.86 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. GE HealthCare Technologies’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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

Insider Activity at GE HealthCare Technologies

In related news, insider Frank R. Jimenez bought 1,315 shares of the stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, for a total transaction of $100,623.80. Following the purchase, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

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.