United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires 29,448 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 375.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,297 shares of the company’s stock after acquiring an additional 29,448 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in GE HealthCare Technologies were worth $3,500,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GEHC. Capital Research Global Investors boosted its position in GE HealthCare Technologies by 5.2% during the 1st quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares during the last quarter. Vanguard Group Inc. grew its position in GE HealthCare Technologies by 9.2% in the first quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after purchasing an additional 4,107,746 shares in the last quarter. Van ECK Associates Corp acquired a new stake in GE HealthCare Technologies in the 3rd quarter valued at $208,513,000. The Manufacturers Life Insurance Company lifted its position in GE HealthCare Technologies by 18.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,245,961 shares of the company’s stock worth $97,088,000 after buying an additional 189,956 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of GE HealthCare Technologies by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,022,396 shares of the company’s stock worth $95,952,000 after buying an additional 23,448 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at approximately $2,101,291.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Trading Down 0.9 %

Shares of GEHC opened at $84.18 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52-week low of $66.39 and a 52-week high of $94.55. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.05 and a beta of 1.24. The business’s fifty day moving average is $88.85 and its 200-day moving average is $83.48.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Friday, October 18th. GE HealthCare Technologies’s payout ratio is 3.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEHC. Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on shares of GE HealthCare Technologies from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. initiated coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective on the stock. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, September 18th. Finally, UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.36.

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, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.