Mirae Asset Global Investments Co. Ltd. purchased a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 401,118 shares of the company’s stock, valued at approximately $32,587,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEHC. General Electric Co. acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $5,002,865,000. Bank of New York Mellon Corp bought a new position in shares of GE HealthCare Technologies in the second quarter valued at approximately $330,208,000. Pzena Investment Management LLC acquired a new position in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $209,044,000. Charles Schwab Investment Management Inc. bought a new stake in GE HealthCare Technologies during the 2nd quarter worth approximately $165,377,000. Finally, Swiss National Bank acquired a new stake in GE HealthCare Technologies during the 2nd quarter valued at $120,055,000. Institutional investors own 79.18% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Wells Fargo & Company assumed coverage on GE HealthCare Technologies in a research note on Wednesday, August 16th. They issued an “overweight” rating and a $90.00 price objective on the stock. Bank of America began coverage on shares of GE HealthCare Technologies in a research report on Monday, July 31st. They set a “neutral” rating and a $82.00 price target on the stock. Argus initiated coverage on shares of GE HealthCare Technologies in a report on Friday, August 25th. They set a “buy” rating and a $80.00 price objective on the stock. Finally, Citigroup started coverage on shares of GE HealthCare Technologies in a research note on Tuesday, September 19th. They issued a “buy” rating and a $82.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.44.
GE HealthCare Technologies Stock Performance
GE HealthCare Technologies stock opened at $73.00 on Monday. The company has a market cap of $33.23 billion and a PE ratio of 21.73. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 1.44. GE HealthCare Technologies Inc. has a 1 year low of $53.00 and a 1 year high of $87.83. The company’s 50-day moving average is $67.31 and its two-hundred day moving average is $73.26.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.10. GE HealthCare Technologies had a net margin of 8.91% and a return on equity of 24.46%. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business posted $0.87 earnings per share. GE HealthCare Technologies’s revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 3.81 earnings per share for the current year.
GE HealthCare Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 20th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, October 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.57%.
GE HealthCare Technologies Company 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, Europe, the Middle East, Africa, China, Taiwan, Mongolia, Hong Kong, and internationally.
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