Danske Bank A S Cuts Stock Position in GE HealthCare Technologies Inc. $GEHC

Danske Bank A S lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 190,256 shares of the company’s stock after selling 11,100 shares during the period. Danske Bank A S’s holdings in GE HealthCare Technologies were worth $12,178,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GEHC. Auto Owners Insurance Co boosted its stake in GE HealthCare Technologies by 9,525.4% during the fourth quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after buying an additional 33,629,559 shares during the period. Norges Bank purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $596,024,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $533,655,000. Cynosure Group LLC boosted its stake in shares of GE HealthCare Technologies by 21,045.4% during the 4th quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock worth $358,055,000 after purchasing an additional 4,344,817 shares during the period. Finally, Boston Partners purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth about $287,627,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GEHC shares. Hovde Group initiated coverage on GE HealthCare Technologies in a research note on Friday, July 17th. They set a “market perform” rating and a $14.00 target price on the stock. Royal Bank Of Canada began coverage on GE HealthCare Technologies in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 price objective on the stock. Jefferies Financial Group decreased their target price on GE HealthCare Technologies from $105.00 to $90.00 in a research report on Thursday, April 30th. Mizuho cut their price target on shares of GE HealthCare Technologies from $90.00 to $80.00 in a report on Thursday, April 30th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.73.

GE HealthCare Technologies Trading Down 0.8%

Shares of NASDAQ:GEHC opened at $74.06 on Friday. The company has a market capitalization of $33.45 billion, a PE ratio of 16.99, a P/E/G ratio of 2.15 and a beta of 0.69. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies Inc. has a 12-month low of $58.75 and a 12-month high of $89.77. The business’s fifty day simple moving average is $66.41 and its 200-day simple moving average is $69.56.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the firm earned $1.06 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

About GE HealthCare Technologies

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.