Nordea Investment Management AB Reduces Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nordea Investment Management AB lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) rose by 19.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 599,480 shares of the company’s stock after selling 144,335 shares during the quarter. Nordea Investment Management AB owned 0.13% of GE HealthCare Technologies worth $54,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $30,000. Rise Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 241.4% during the 1st quarter. Rise Advisors LLC now owns 338 shares of the company’s stock worth $31,000 after acquiring an additional 239 shares during the last quarter. Riverview Trust Co purchased a new position in shares of GE HealthCare Technologies during the 1st quarter worth $31,000. Annapolis Financial Services LLC boosted its stake in shares of GE HealthCare Technologies by 171.9% during the 1st quarter. Annapolis Financial Services LLC now owns 348 shares of the company’s stock worth $32,000 after acquiring an additional 220 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of GE HealthCare Technologies during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America dropped their price target on shares of GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Argus raised their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They set a “neutral” rating and a $87.00 price objective on the stock. Finally, Mizuho decreased their price objective on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.09.

Read Our Latest Report on GE HealthCare Technologies

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $76.35 on Tuesday. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The company has a market cap of $34.85 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.77 and a beta of 1.20. The firm’s fifty day moving average is $78.69 and its two-hundred day moving average is $81.90. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06.

GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the company posted $0.85 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, July 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. GE HealthCare Technologies’s dividend payout ratio is presently 3.51%.

Insider Buying and Selling

In related news, CTO Taha Kass-Hout sold 3,300 shares of GE HealthCare Technologies stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at approximately $5,296,510. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other GE HealthCare Technologies news, CEO Jan Makela sold 66,955 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $81.54, for a total value of $5,459,510.70. Following the completion of the sale, the chief executive officer now directly owns 63,348 shares of the company’s stock, valued at approximately $5,165,395.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,482 shares of company stock valued at $7,369,137. Company insiders own 0.27% of the company’s stock.

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.

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