Mirae Asset Global Investments Co. Ltd. Makes New $21.12 Million Investment in GE HealthCare Technologies Inc. $GEHC

Mirae Asset Global Investments Co. Ltd. acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 323,123 shares of the company’s stock, valued at approximately $21,123,000.

A number of other hedge funds also recently bought and sold shares of GEHC. State Street Corp increased its position in GE HealthCare Technologies by 1.6% during the second quarter. State Street Corp now owns 20,861,566 shares of the company’s stock valued at $1,335,349,000 after acquiring an additional 323,090 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in GE HealthCare Technologies by 13.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after acquiring an additional 1,571,226 shares during the period. Dimensional Fund Advisors LP boosted its position in GE HealthCare Technologies by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock worth $384,219,000 after purchasing an additional 105,995 shares during the last quarter. Van ECK Associates Corp boosted its position in GE HealthCare Technologies by 4.1% in the second 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 last quarter. Finally, Mizuho Markets Cayman LP boosted its position in GE HealthCare Technologies by 173.2% in the first 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 last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GEHC. 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 price target for the company. Wall Street Zen upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group raised their price objective on shares of GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. BMO Capital Markets began coverage on shares of GE HealthCare Technologies in a report on Wednesday, July 8th. They issued a “market perform” rating and a $70.00 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of GE HealthCare Technologies in a research report on Tuesday, October 20th. They set a “peer perform” rating for the company. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.57.

GE HealthCare Technologies Trading Up 3.9%

Shares of GE HealthCare Technologies stock opened at $79.55 on Tuesday. The company has a market capitalization of $35.93 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 1.30. The company has a fifty day moving average of $68.55 and a 200 day moving average of $70.03. GE HealthCare Technologies Inc. has a fifty-two week low of $58.75 and a fifty-two week high of $89.77.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.35 billion. GE HealthCare Technologies had a return on equity of 20.45% and a net margin of 9.96%. GE HealthCare Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. GE HealthCare Technologies’s dividend payout ratio is currently 3.38%.

About GE HealthCare Technologies

GE HealthCare Technologies Inc is a global medical technology company that develops and provides products, services and digital solutions for healthcare providers. Its offerings are designed to support the diagnosis, treatment and monitoring of patients across hospitals, outpatient facilities, imaging centers and other care settings.

The company’s portfolio includes medical imaging systems such as computed tomography, magnetic resonance imaging, molecular imaging, surgical imaging and X-ray equipment.