Capital Research & Management Co recently announced the acquisition of new stake in GE HealthCare Technologies Inc (NASDAQ:GEHC). The institutional investor has increased its shareholding in the Healthcare company by 0.75% to 49.94 million shares with purchase of 0.37 million shares. This fresh investment now brings its stake to 10.98% valued currently at $3.32 billion. In addition, The Vanguard Group, Inc. raised its holdings by 5.65 million to 42.9 million shares. And BlackRock Fund Advisors has lifted its position by 4.83% or 0.89 million shares – to 19.25 million shares.
With over 5.01 million GE HealthCare Technologies Inc (GEHC) shares trading Tuesday and a closing price of $68.13 on the day, the dollar volume was approximately $341.67 million. The shares have shown a negative half year performance of -12.61% and its price on 11/28/23 lost nearly -4.23%. Currently, there are 453.93M common shares owned by the public and among those 392.38M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for GEHC have a consensus price objective of $83.14. The analysts have set the share’s price value over the next 12 months at a high of $97.00 and a low of $66.00. The average price target is 18.05% above its recent price level and a downside to the estimated low will see the stock lose -3.23% over that period. But an upside of 29.76% will see the stock hit the forecast high price target while median target price for the stock is $84.00.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 1,047,285 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 392,460,263 shares.
The top 3 mutual fund holders in GE HealthCare Technologies Inc are American Funds Investment Company, Vanguard Total Stock Market ETF, and Dodge & Cox Stock Fund. American Funds Investment Company owns 16.05 million shares of the company’s stock, all valued at over $1.07 billion. The company sold -0.14 million shares recently to bring their total holdings to about 3.53% of the shares outstanding. Vanguard Total Stock Market ETF bought 58968.0 shares to see its total holdings expand to 12.1 million shares valued at over $805.56 million and representing 2.66% of the shares outstanding. Dodge & Cox Stock Fund bought 58400.0 shares to bring its total holdings to over 10.71 million shares at a value of $712.83 million. Dodge & Cox Stock Fund now owns shares totaling to 2.35% of the shares outstanding.
Shares of GE HealthCare Technologies Inc (NASDAQ: GEHC) opened at $70.70, down -$0.44 from a prior closing price of $71.14. However, the script later moved the day high at 70.78, down -4.23%. The company’s stock has a 5-day price change of -7.09% and -3.33% over the past three months. It has a 12-month low price of $53.00 and touched a high of $87.83 over the same period. GEHC has an average intraday trading volume of 2.82 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.52%, 0.15%, and -8.60% respectively.
Institutional ownership of GE HealthCare Technologies Inc (NASDAQ: GEHC) shares accounts for 67.50% of the company’s 453.93M shares outstanding. Mutual fund holders own 33.66%, while other institutional holders and individual stakeholders account for 45.54% and 22.50% respectively.
It has a market capitalization of $31.01B. The stock’s trailing 12-month PE ratio is 20.24, while the earnings-per-share (ttm) stands at $3.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.76% over the week and 2.05% over the month.
Analysts forecast that GE HealthCare Technologies Inc (GEHC) will achieve an EPS of $Encompass Health Corporation for the current quarter, $64.59 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Great Elm Capital Corp. while analysts give the company a high EPS estimate of $Graham Holdings Company. Comparatively, EPS for the current quarter was $Gencor Industries, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -17.65%, and 10.93% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate GE HealthCare Technologies Inc (GEHC) as a “Strong Buy” at a consensus score of 1.86. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 4 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GEHC, a number of firms have released research notes about the stock. UBS stated their Sell rating for the stock in a research note on November 27, 2023, with the firm’s price target at $86-$66.
