Capital Research & Management Co has recently announced that it has increased stake in GE HealthCare Technologies Inc (NASDAQ:GEHC) by 0.75%. After grabbing 49.94 million shares, the institutional investor is now in possession of 0.37 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 10.98% having worth around $3.32 billion. Moreover, The Vanguard Group, Inc. increased its share by 5.65 million to have a control over 42.9 million shares. And BlackRock Fund Advisors raised its holdings to 0.89 million shares by acquiring 19.25 million shares or 4.23% of the stake.
GE HealthCare Technologies Inc (GEHC) concluded trading on 12/14/23 at a closing price of $75.92, with 4.27 million shares of worth about $324.25 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -4.02% during that period and on Thursday the price saw a gain of about 2.35%. Currently the company’s common shares owned by public are about 453.93M shares, out of which, 392.44M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 82 times over the past 12 months. They bought 1,047,285 shares in 55 of the transactions. In 27 selling transactions, insiders dumped 392,467,420 shares.
American Funds Investment Company, Vanguard Total Stock Market ETF, and Dodge & Cox Stock Fund are the top 3 mutual funds which are holding stakes in GE HealthCare Technologies Inc American Funds Investment Company is currently holding 16.05 million shares of worth totaling $1.07 billion. The company recently came selling -0.14 million shares which brought its stake up to 3.53% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 58968.0 shares, after which its hold over company’s outstanding shares expand to 2.66%, leaving 12.1 million shares with the mutual fund that have a worth of about $805.56 million. Dodge & Cox Stock Fund, after buying 10.71 million shares, have now control over 2.35% of the stake in the company. It holds 58400.0 shares of worth $712.83 million.
However, the stock later moved at a day high price of 76.30, or with a gain of 2.35%. Stock saw a price change of 12.66% in past 5 days and over the past one month there was a price change of 5.14%. Over the period of past 52 weeks, stock dropped to lowest price of $53.00 but also hit the highest price of $87.83 during that period. The average intraday trading volume for GE HealthCare Technologies Inc shares is 2.76 million. The stock is currently trading 7.39% above its 20-day simple moving average (SMA20), while that difference is up 10.52% for SMA50 and it goes to 2.14% higher than SMA200.
Capital Research & Management Co acquired 49.94 million shares of GE HealthCare Technologies Inc having value of about $3.32 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 0.37 million shares in the company valued at close to $28345794.88, or have control over 0.75% stake in the company. GE HealthCare Technologies Inc (NASDAQ: GEHC) currently have 453.93M outstanding shares and institutions hold larger chunk of about 67.52% of that. Holding of mutual funds in the company is about 33.63% while other institutional holders and individual stake holders have control over 45.43% and 22.61% of the stake respectively.
The stock has a current market capitalization of $34.56B and its 3Y-monthly beta is at 0.84. PE ratio of stock for trailing 12 months is 22.56, while it has posted earnings per share of $3.37 in the same period. It has Quick Ratio of 0.92 while making debt-to-equity ratio of 1.44. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GEHC, volatility over the week remained 2.45% while standing at 1.97% over the month.
Analysts are in expectations that GE HealthCare Technologies Inc (GEHC) stock would likely to be making an EPS of $1.07 in the current quarter, while forecast for next quarter EPS is $0.91 and it is $4.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.04 which is $1.1 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -17.57% while it is estimated to increase by 10.88% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on November 30, 2023 offering a Hold rating for the stock and assigned a target price of $80 to it.
