GE HealthCare Technologies Inc. $GEHC Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,794 shares of the company’s stock after selling 6,344 shares during the quarter. Pictet Asset Management Holding SA’s holdings in GE HealthCare Technologies were worth $12,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted 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 buying an additional 323,090 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of GE HealthCare Technologies by 13.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,455,814 shares of the company’s stock valued at $861,307,000 after buying an additional 1,571,226 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of GE HealthCare Technologies by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,399,439 shares of the company’s stock worth $384,219,000 after buying an additional 105,995 shares during the period. Van ECK Associates Corp grew its position in shares of GE HealthCare Technologies by 4.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,482,631 shares of the company’s stock worth $286,933,000 after buying an additional 177,028 shares during the period. Finally, Mizuho Markets Cayman LP grew its position in shares of GE HealthCare Technologies by 173.2% in the 1st quarter. Mizuho Markets Cayman LP now owns 3,068,500 shares of the company’s stock worth $218,416,000 after buying an additional 1,945,500 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock opened at $81.84 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $58.75 and a 1 year high of $89.77. The firm’s 50-day moving average is $70.29 and its 200 day moving average is $70.10. The stock has a market cap of $37.00 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 2.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.30 and a quick ratio of 1.01.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.34 earnings per share for the quarter, beating 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 net margin of 9.96% and a return on equity of 20.45%. GE HealthCare Technologies’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 5.02 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. Investors of record on Friday, October 23rd will be given a $0.04 dividend. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.0350. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.16 annualized dividend and a yield of 0.2%. GE HealthCare Technologies’s payout ratio is currently 3.38%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEHC. Wolfe Research initiated coverage on shares of GE HealthCare Technologies in a research note on Tuesday, October 20th. They issued a “peer perform” rating for the company. Weiss Ratings raised shares of GE HealthCare Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Royal Bank Of Canada upped their price objective on shares of GE HealthCare Technologies from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Barclays upped their price objective on shares of GE HealthCare Technologies from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, UBS Group raised their target price on shares of GE HealthCare Technologies from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.17.

GE HealthCare Technologies Company Profile

GE HealthCare Technologies Inc. is a global medical technology company that develops and provides equipment, software and services for healthcare providers. Its offerings support medical imaging, diagnosis, patient monitoring and treatment across a range of clinical settings. The company’s products include magnetic resonance imaging, computed tomography, molecular imaging and ultrasound systems, as well as patient monitoring and care solutions. Its Pharmaceutical Diagnostics business supplies contrast agents and radiopharmaceuticals used in medical imaging.