Nissay Asset Management Corp Japan Raises Stake in GE HealthCare Technologies Inc. $GEHC

Nissay Asset Management Corp Japan lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 140,791 shares of the company’s stock after purchasing an additional 7,955 shares during the period. Nissay Asset Management Corp Japan’s holdings in GE HealthCare Technologies were worth $9,012,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its position in GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock valued at $278,725,000 after buying an additional 33,629,559 shares during the period. Dodge & Cox grew its stake in GE HealthCare Technologies by 13.4% in the 4th quarter. Dodge & Cox now owns 31,211,229 shares of the company’s stock worth $2,559,945,000 after acquiring an additional 3,693,918 shares in the last quarter. Capital Research Global Investors grew its stake in GE HealthCare Technologies by 1.6% in the 4th quarter. Capital Research Global Investors now owns 25,362,352 shares of the company’s stock worth $2,080,248,000 after acquiring an additional 389,796 shares in the last quarter. State Street Corp increased its position in shares of GE HealthCare Technologies by 2.0% during the fourth quarter. State Street Corp now owns 20,049,677 shares of the company’s stock worth $1,644,475,000 after acquiring an additional 401,932 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of GE HealthCare Technologies by 13.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock worth $861,307,000 after acquiring an additional 1,571,226 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 1.0%

Shares of NASDAQ:GEHC opened at $71.72 on Friday. 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 $67.67 and its 200-day simple moving average is $69.33. The company has a market capitalization of $32.40 billion, a PE ratio of 16.45, a P/E/G ratio of 2.07 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 (NASDAQ:GEHC) last issued its quarterly earnings data 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 firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the prior year, the business posted $1.06 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

Analyst Upgrades and Downgrades

GEHC has been the subject of a number of research reports. Argus lowered their price target on GE HealthCare Technologies from $95.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Zacks Research upgraded GE HealthCare Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada initiated coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $80.00 target price for the company. The Goldman Sachs Group reissued a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Finally, Citigroup raised their target price on shares of GE HealthCare Technologies from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Hold” and a consensus 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.