Jennison Associates LLC Boosts Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jennison Associates LLC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 56.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 761,618 shares of the company’s stock after purchasing an additional 274,657 shares during the quarter. Jennison Associates LLC owned approximately 0.17% of GE HealthCare Technologies worth $71,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mesirow Financial Investment Management Inc. increased its stake in GE HealthCare Technologies by 39.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock worth $383,000 after buying an additional 1,159 shares in the last quarter. LMR Partners LLP acquired a new position in GE HealthCare Technologies in the 3rd quarter valued at $7,387,000. Bank of Montreal Can lifted its holdings in GE HealthCare Technologies by 27.5% in the 2nd quarter. Bank of Montreal Can now owns 696,446 shares of the company’s stock valued at $54,964,000 after purchasing an additional 150,137 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in GE HealthCare Technologies by 2.2% during the 3rd quarter. Douglas Lane & Associates LLC now owns 460,004 shares of the company’s stock worth $43,171,000 after purchasing an additional 10,099 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of GE HealthCare Technologies by 5,075,130.0% during the first quarter. Canada Pension Plan Investment Board now owns 507,523 shares of the company’s stock worth $46,139,000 after buying an additional 507,513 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Trading Up 2.9 %

NASDAQ GEHC opened at $84.90 on Thursday. GE HealthCare Technologies Inc. has a 12 month low of $66.39 and a 12 month high of $94.55. The stock has a market capitalization of $38.79 billion, a P/E ratio of 23.32, a PEG ratio of 2.93 and a beta of 1.24. The firm’s 50-day moving average is $88.54 and its two-hundred day moving average is $83.58. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.99 EPS. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.29 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 3.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of GE HealthCare Technologies in a research note on Monday, September 9th. They issued a “neutral” rating and a $90.00 price target on the stock. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on GE HealthCare Technologies from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. UBS Group cut 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. Finally, BTIG Research raised 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, September 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.36.

GE HealthCare Technologies Company Profile

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.