Norges Bank Takes $488.53 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Norges Bank acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 6,248,800 shares of the company’s stock, valued at approximately $488,531,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. D1 Capital Partners L.P. acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at about $268,159,000. Van ECK Associates Corp raised its position in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after buying an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the period. State Street Corp boosted its position in GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in GE HealthCare Technologies by 53.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company’s stock worth $268,047,000 after acquiring an additional 1,194,983 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Down 2.0 %

GEHC stock opened at $80.01 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The firm has a market cap of $36.59 billion, a PE ratio of 18.48, a P/E/G ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 month high of $94.80. The firm has a 50 day simple moving average of $86.70 and a 200 day simple moving average of $85.86.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s payout ratio is presently 3.23%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.75.

About GE HealthCare Technologies

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.