Nissay Asset Management Corp Japan Boosts Stock Position in GE HealthCare Technologies Inc. $GEHC

Nissay Asset Management Corp Japan increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,791 shares of the company’s stock after purchasing an additional 7,955 shares during the period. Nissay Asset Management Corp Japan’s holdings in GE HealthCare Technologies were worth $9,012,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GEHC. Auto Owners Insurance Co grew its stake in shares of GE HealthCare Technologies by 9,525.4% in the 4th quarter. Auto Owners Insurance Co now owns 33,982,610 shares of the company’s stock worth $278,725,000 after buying an additional 33,629,559 shares in the last quarter. Norges Bank bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $596,024,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $533,655,000. Cynosure Group LLC raised its position in shares of GE HealthCare Technologies by 21,045.4% during the 4th quarter. Cynosure Group LLC now owns 4,365,462 shares of the company’s stock valued at $358,055,000 after buying an additional 4,344,817 shares in the last quarter. Finally, Boston Partners bought a new position in shares of GE HealthCare Technologies in the 3rd quarter valued at about $287,627,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating on shares of GE HealthCare Technologies in a research note on Thursday, July 30th. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. BTIG Research reiterated a “buy” rating and issued a $79.00 target price on shares of GE HealthCare Technologies in a report on Wednesday, August 19th. The Goldman Sachs Group reissued a “neutral” rating on shares of GE HealthCare Technologies in a research report on Monday, June 8th. Finally, Royal Bank Of Canada assumed coverage on GE HealthCare Technologies in a report on Tuesday, June 23rd. They set an “outperform” rating and a $80.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Hold” and an average price target of $77.73.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC opened at $71.72 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. GE HealthCare Technologies Inc. has a 12 month low of $58.75 and a 12 month high of $89.77. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 2.07 and a beta of 0.69. The firm’s 50-day moving average is $67.67 and its 200 day moving average is $69.33.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. GE HealthCare Technologies had a net margin of 9.33% and a return on equity of 20.12%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts predict that GE HealthCare Technologies Inc. will post 4.93 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 24th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, July 24th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.21%.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies (NASDAQ: GEHC) is a global medical technology and diagnostics company that develops, manufactures and markets a broad range of products and services for healthcare providers. Its portfolio centers on diagnostic imaging systems, including MRI, CT, PET and X-ray modalities, as well as ultrasound equipment. The company also supplies patient monitoring and anesthesia delivery systems, interventional and surgical imaging solutions, and molecular imaging technologies used in both clinical care and research settings.

In addition to hardware, GE HealthCare offers software, analytics and lifecycle services aimed at improving clinical workflows and equipment uptime.