PensionDanmark Pensionsforsikringsaktieselskab Has $6.24 Million Stake in GE HealthCare Technologies Inc. $GEHC

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 39.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,524 shares of the company’s stock after purchasing an additional 27,700 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in GE HealthCare Technologies were worth $6,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in shares of GE HealthCare Technologies by 6.1% in the 1st quarter. Empowered Funds LLC now owns 28,848 shares of the company’s stock valued at $2,328,000 after acquiring an additional 1,665 shares in the last quarter. Acadian Asset Management LLC bought a new stake in GE HealthCare Technologies during the first quarter worth about $259,000. Cresset Asset Management LLC boosted its position in GE HealthCare Technologies by 12.5% during the second quarter. Cresset Asset Management LLC now owns 7,802 shares of the company’s stock valued at $578,000 after purchasing an additional 865 shares during the last quarter. Jump Financial LLC boosted its position in GE HealthCare Technologies by 317.6% during the second quarter. Jump Financial LLC now owns 28,132 shares of the company’s stock valued at $2,084,000 after purchasing an additional 21,396 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in GE HealthCare Technologies by 8.6% in the second quarter. Gamco Investors INC. ET AL now owns 4,041 shares of the company’s stock valued at $299,000 after purchasing an additional 320 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

GEHC opened at $71.77 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.26 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 has a 50 day moving average of $64.72 and a 200-day moving average of $70.07. The stock has a market cap of $32.42 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.07 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, topping analysts’ consensus estimates of $1.04 by $0.09. GE HealthCare Technologies had a return on equity of 20.12% and a net margin of 9.33%.The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the firm earned $1.06 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.93 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 24th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

Insider Activity

In related news, Director Kevin Lobo bought 10,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $64.18 per share, for a total transaction of $641,800.00. Following the purchase, the director owned 14,363 shares in the company, valued at $921,817.34. This represents a 229.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rodney F. Hochman bought 1,618 shares of GE HealthCare Technologies stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $62.03 per share, with a total value of $100,364.54. Following the acquisition, the director directly owned 1,618 shares in the company, valued at $100,364.54. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 0.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on GEHC shares. BMO Capital Markets assumed coverage on GE HealthCare Technologies in a research report on Wednesday, July 8th. They set a “market perform” rating and a $70.00 price target on the stock. UBS Group raised their target price on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. BTIG Research boosted their target price on shares of GE HealthCare Technologies from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Zacks Research lowered shares of GE HealthCare Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 21st. Finally, Oppenheimer reiterated an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.73.

GE HealthCare Technologies Company 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.