ING Groep NV Makes New $2.97 Million Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

ING Groep NV acquired a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 31,678 shares of the company’s stock, valued at approximately $2,973,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 48,519,340 shares of the company’s stock valued at $4,410,893,000 after buying an additional 4,107,746 shares during the period. Capital Research Global Investors grew its position in GE HealthCare Technologies by 5.2% in the first quarter. Capital Research Global Investors now owns 53,991,923 shares of the company’s stock worth $4,908,406,000 after acquiring an additional 2,647,204 shares during the period. Van ECK Associates Corp acquired a new stake in GE HealthCare Technologies during the third quarter worth $208,513,000. Marshall Wace LLP purchased a new position in shares of GE HealthCare Technologies during the 2nd quarter worth $63,639,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in GE HealthCare Technologies by 4,959.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 758,514 shares of the company’s stock valued at $68,957,000 after buying an additional 743,523 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group downgraded shares of GE HealthCare Technologies from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $74.00 in a research note on Thursday, September 26th. Redburn Atlantic raised GE HealthCare Technologies to a “strong-buy” rating in a research report on Thursday, August 1st. Evercore ISI raised their price target on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

GE HealthCare Technologies Trading Down 1.4 %

NASDAQ:GEHC opened at $81.76 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $66.39 and a 1 year high of $94.55. The stock has a market cap of $37.35 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.02 and a beta of 1.24. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. The stock has a 50-day simple moving average of $88.70 and a 200-day simple moving average of $83.48.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.87 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.03 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.12 annualized dividend and a yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Insiders Place Their Bets

In other news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the sale, the chief executive officer now directly owns 24,298 shares of the company’s stock, valued at approximately $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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.