BOCHK Asset Management Ltd Invests $5.49 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

BOCHK Asset Management Ltd bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 58,500 shares of the company’s stock, valued at approximately $5,490,000. GE HealthCare Technologies accounts for approximately 1.6% of BOCHK Asset Management Ltd’s holdings, making the stock its 22nd largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors lifted its position in shares of GE HealthCare Technologies by 5.2% in 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 period. Vanguard Group Inc. lifted 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 worth $4,410,893,000 after purchasing an additional 4,107,746 shares during the period. The Manufacturers Life Insurance Company boosted its stake in GE HealthCare Technologies by 18.0% during the second 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. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in GE HealthCare Technologies by 2.1% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,025,320 shares of the company’s stock valued at $93,212,000 after buying an additional 20,776 shares during the period. Finally, Stonegate Investment Group LLC raised its stake in shares of GE HealthCare Technologies by 1.0% in the 3rd quarter. Stonegate Investment Group LLC now owns 979,649 shares of the company’s stock valued at $91,940,000 after buying an additional 9,572 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GE HealthCare Technologies

In other GE HealthCare Technologies news, CEO Thomas J. Westrick sold 2,750 shares of GE HealthCare Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total transaction of $222,145.00. Following the completion of the sale, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by company insiders.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded down $0.13 on Thursday, reaching $89.16. The company’s stock had a trading volume of 317,282 shares, compared to its average volume of 2,991,609. The business’s fifty day moving average price is $88.28 and its 200 day moving average price is $83.41. The company has a market cap of $40.70 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 3.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.88 billion. GE HealthCare Technologies had a net margin of 8.10% and a return on equity of 25.26%. GE HealthCare Technologies’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities analysts expect that GE HealthCare Technologies Inc. will post 4.26 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Friday, October 18th. GE HealthCare Technologies’s dividend payout ratio is 3.51%.

Analyst Ratings Changes

Several analysts have recently weighed in 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 on the stock in a research report on Wednesday, September 18th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their target price on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and cut their target price for the stock from $84.00 to $74.00 in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $94.23.

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.