June 24, 2024

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Assenagon Asset Management S.A. Buys 4,178 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

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Assenagon Asset Management S.A. lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 59.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,229 shares of the company’s stock after acquiring an additional 4,178 shares during the period. Assenagon Asset Management S.A.’s holdings in GE HealthCare Technologies were worth $868,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GEHC. Barclays PLC bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $92,462,000. Thrivent Financial for Lutherans bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $1,590,000. Snowden Capital Advisors LLC bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $592,000. Capital Fund Management S.A. bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $2,163,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of GE HealthCare Technologies in the second quarter worth about $747,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 0.6 %

Shares of GEHC stock opened at $88.47 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $86.92 and its two-hundred day simple moving average is $76.53. The company has a market cap of $40.29 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 3.06 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.97%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEHC. Mizuho upped their price objective on GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Citigroup boosted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday. HSBC began coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price on the stock. Evercore ISI boosted their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.92.

View Our Latest Research Report on GE HealthCare Technologies

About GE HealthCare Technologies

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report).

Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)



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