E. Ohman J or Asset Management AB Purchases 8,065 Shares of GE HealthCare Technologies Inc. $GEHC

E. Ohman J or Asset Management AB grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 53.7% during the third quarter, HoldingsChannel.com reports. The fund owned 23,086 shares of the company’s stock after purchasing an additional 8,065 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in GE HealthCare Technologies were worth $1,509,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. NBH Bank purchased a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at about $26,000. Physician Wealth Advisors Inc. boosted its holdings in GE HealthCare Technologies by 60.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 163 shares during the period. Global Assets Advisory LLC acquired a new stake in GE HealthCare Technologies in the first quarter valued at approximately $37,000. Fortitude Family Office LLC raised its stake in shares of GE HealthCare Technologies by 249.1% during the third quarter. Fortitude Family Office LLC now owns 597 shares of the company’s stock valued at $39,000 after purchasing an additional 426 shares during the period. Finally, Aberdeen Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the second quarter valued at approximately $44,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

GEHC opened at $71.45 on Friday. GE HealthCare Technologies Inc. has a 1-year low of $58.75 and a 1-year high of $89.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.26 and a quick ratio of 0.97. The business has a 50 day moving average price of $68.26 and a two-hundred day moving average price of $66.79. The company has a market capitalization of $32.27 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.88 and a beta of 0.73.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS 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. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. GE HealthCare Technologies’s dividend payout ratio is presently 3.21%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GEHC. Citigroup cut their price target on shares of GE HealthCare Technologies from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Evercore reissued an “outperform” rating and set a $84.00 price target on shares of GE HealthCare Technologies in a report on Thursday, July 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GE HealthCare Technologies in a report on Monday, October 5th. Piper Sandler reissued a “buy” rating on shares of GE HealthCare Technologies in a research note on Wednesday, July 29th. Finally, UBS Group increased their price objective on GE HealthCare Technologies from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $78.35.

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.