GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,009,910 shares of the company’s stock after buying an additional 19,010 shares during the period. Principal Financial Group Inc. owned about 0.22% of GE HealthCare Technologies worth $94,780,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEHC. Assenagon Asset Management S.A. grew its holdings in GE HealthCare Technologies by 8.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,479 shares of the company’s stock worth $972,000 after buying an additional 953 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of GE HealthCare Technologies during the 2nd quarter valued at $37,000. Independence Bank of Kentucky boosted its position in shares of GE HealthCare Technologies by 75.8% in the 2nd quarter. Independence Bank of Kentucky now owns 1,624 shares of the company’s stock valued at $127,000 after purchasing an additional 700 shares during the period. Tempus Wealth Planning LLC increased its position in shares of GE HealthCare Technologies by 0.5% in the second quarter. Tempus Wealth Planning LLC now owns 30,892 shares of the company’s stock worth $2,407,000 after acquiring an additional 141 shares in the last quarter. Finally, WD Rutherford LLC raised its stake in GE HealthCare Technologies by 29.6% during the 2nd quarter. WD Rutherford LLC now owns 7,886 shares of the company’s stock valued at $614,000 after purchasing an additional 1,801 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Insiders Place Their Bets

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction 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 transaction, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 1.9 %

Shares of GEHC stock opened at $78.91 on Friday. The firm’s fifty day simple moving average is $84.64 and its 200 day simple moving average is $83.72. The firm has a market capitalization of $36.05 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 2.96 and a beta of 1.07. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. GE HealthCare Technologies Inc. has a 1 year low of $71.31 and a 1 year high of $94.55.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the previous year, the business posted $0.99 earnings per share. GE HealthCare Technologies’s quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

Wall Street Analyst Weigh In

GEHC has been the topic of a number of research reports. UBS Group downgraded GE HealthCare Technologies from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $74.00 in a report on Thursday, September 26th. Evercore ISI increased their price target on shares of GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Wells Fargo & Company increased their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.46.

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.