GE HealthCare Technologies Inc. $GEHC Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,794 shares of the company’s stock after selling 6,344 shares during the period. Pictet Asset Management Holding SA’s holdings in GE HealthCare Technologies were worth $12,864,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in GE HealthCare Technologies by 1.6% in the second quarter. State Street Corp now owns 20,861,566 shares of the company’s stock worth $1,335,349,000 after purchasing an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after purchasing an additional 1,571,226 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of GE HealthCare Technologies by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock valued at $384,219,000 after purchasing an additional 105,995 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of GE HealthCare Technologies by 4.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock worth $286,933,000 after purchasing an additional 177,028 shares during the period. Finally, Mizuho Markets Cayman LP lifted its stake in shares of GE HealthCare Technologies by 173.2% in the 1st quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock worth $218,416,000 after purchasing an additional 1,945,500 shares during the period. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $81.84 on Friday. The stock’s 50 day simple moving average is $70.29 and its two-hundred day simple moving average is $70.10. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77. The company has a market cap of $37.00 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.20 by $0.14. GE HealthCare Technologies had a net margin of 9.96% and a return on equity of 20.45%. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the business earned $1.07 earnings per share. GE HealthCare Technologies’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 5.02 earnings per share for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a $0.04 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date is Friday, October 23rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies’s payout ratio is presently 3.38%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GEHC. JPMorgan Chase & Co. raised their price objective on shares of GE HealthCare Technologies from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Weiss Ratings raised shares of GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Argus upped their target price on shares of GE HealthCare Technologies from $85.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. BTIG Research increased their price target on shares of GE HealthCare Technologies from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Finally, Piper Sandler reiterated a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.17.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc. is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings. The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.