T. Rowe Price Investment Manageme recently announced the acquisition of new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC). This fresh investment now brings its stake to 1.43% valued currently at $492.55 million. In addition, T. Rowe Price Associates, Inc. raised its holdings by 6.36 million to 6.36 million shares.
With over 3.29 million GE HealthCare Technologies Inc. (GEHC) shares trading Friday and a closing price of $74.97 on the day, the dollar volume was approximately $246.72 million. Currently, there are 453.93M common shares owned by the public and among those 453.16M 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: 2 analysts who have offered their price forecasts for GEHC have a consensus price objective of $90.00. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $90.00. The average price target is 16.7% above its recent price level and an upside to the estimated low will see the stock gain 16.7% over that period. But an upside of 16.7% will see the stock hit the forecast high price target while median target price for the stock is $90.00.
Insiders at the company have transacted a total of 24 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 762,051 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 363,594,837 shares.
The top 3 mutual fund holders in GE HealthCare Technologies Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 11.16 million shares of the company’s stock, all valued at over $848.53 million. The company bought an additional 11.16 million shares recently to bring their total holdings to about 2.46% of the shares outstanding. Vanguard Mid Cap Index Fund bought 4.24 million shares to bring its total holdings to over 4.24 million shares at a value of $322.05 million. Vanguard Mid Cap Index Fund now owns shares totaling to 0.93% of the shares outstanding.
Shares of GE HealthCare Technologies Inc. (NASDAQ: GEHC) opened at $75.88, down -$0.5 from a prior closing price of $76.38. However, the script later moved the day high at 76.50, down -1.85%. It has a 12-month low price of $53.00 and touched a high of $77.40 over the same period. GEHC has an average intraday trading volume of 3.16 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 1.58%, 9.44%, and 11.64% respectively.
Institutional ownership of GE HealthCare Technologies Inc. (NASDAQ: GEHC) shares accounts for 41.66% of the company’s 453.93M shares outstanding. Mutual fund holders own 18.32%, while other institutional holders and individual stakeholders account for 20.12% and -14.72% respectively.
It has a market capitalization of $34.67B. The stock’s trailing 12-month PE ratio is 17.93, while the earnings-per-share (ttm) stands at $4.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.91% over the week and 2.58% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -14.70%, and 15.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate GE HealthCare Technologies Inc. (GEHC) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GEHC, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on February 17, 2023, with the firm’s price target at $90.
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