E Fund Management Co. Ltd. Purchases 430 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

E Fund Management Co. Ltd. increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,782 shares of the company’s stock after purchasing an additional 430 shares during the quarter. E Fund Management Co. Ltd.’s holdings in GE HealthCare Technologies were worth $528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. 9258 Wealth Management LLC lifted its position in GE HealthCare Technologies by 5.7% in the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after purchasing an additional 176 shares during the period. Principal Securities Inc. acquired a new position in GE HealthCare Technologies during the fourth quarter worth $38,000. Level Four Advisory Services LLC raised its stake in GE HealthCare Technologies by 5.7% during the fourth quarter. Level Four Advisory Services LLC now owns 3,455 shares of the company’s stock worth $267,000 after acquiring an additional 187 shares in the last quarter. Norges Bank acquired a new position in GE HealthCare Technologies during the fourth quarter worth $229,052,000. Finally, UBS Group AG raised its stake in GE HealthCare Technologies by 1.6% during the fourth quarter. UBS Group AG now owns 1,042,298 shares of the company’s stock worth $80,590,000 after acquiring an additional 16,372 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Thomas J. Westrick sold 2,750 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $80.78, for a total value of $222,145.00. Following the completion of the transaction, the chief executive officer now owns 17,509 shares of the company’s stock, valued at approximately $1,414,377.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on GE HealthCare Technologies in a research note on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective for the company. Redburn Atlantic upgraded GE HealthCare Technologies to a “strong-buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research note on Monday, September 9th. They set a “neutral” rating and a $90.00 price objective for the company. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday. Finally, Stifel Nicolaus initiated coverage on GE HealthCare Technologies in a research note on Tuesday, August 6th. They issued a “buy” rating and a $100.00 target price for the company. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Price Performance

Shares of GEHC stock opened at $88.53 on Thursday. The stock has a 50-day moving average price of $83.46 and a 200 day moving average price of $83.27. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.05. The firm has a market cap of $40.41 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.26 and a beta of 1.17. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50.

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

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Friday, July 19th. GE HealthCare Technologies’s payout ratio is presently 3.51%.

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.