Capital Research & Management Co recently announced the acquisition of new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC). This fresh investment now brings its stake to 10.45% valued currently at $3.87 billion. In addition, BlackRock Fund Advisors raised its holdings by 17.07 million to 17.07 million shares.
With over 1.35 million GE HealthCare Technologies Inc. (GEHC) shares trading Monday and a closing price of $79.08 on the day, the dollar volume was approximately $107.1 million. Currently, there are 454.68M common shares owned by the public and among those 453.21M 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: 8 analysts who have offered their price forecasts for GEHC have a consensus price objective of $92.40. The analysts have set the share’s price value over the next 12 months at a high of $97.00 and a low of $86.00. The average price target is 14.42% above its recent price level and an upside to the estimated low will see the stock gain 8.05% over that period. But an upside of 18.47% will see the stock hit the forecast high price target while median target price for the stock is $94.00.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 936,225 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 363,682,494 shares.
The top 3 mutual fund holders in GE HealthCare Technologies Inc. are American Funds Investment Company, American Funds Growth Fund of Ame, and Vanguard Total Stock Market ETF. American Funds Investment Company owns 15.35 million shares of the company’s stock, all valued at over $1.25 billion. The company bought an additional 15.35 million shares recently to bring their total holdings to about 3.38% of the shares outstanding. Vanguard Total Stock Market ETF bought 43257.0 shares to bring its total holdings to over 11.25 million shares at a value of $914.88 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.47% of the shares outstanding.
Shares of GE HealthCare Technologies Inc. (NASDAQ: GEHC) opened at $79.35, up $0.01 from a prior closing price of $79.34. However, the script later moved the day high at 79.36, down -0.33%. The company’s stock has a 5-day price change of 5.54% and 9.12% 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 2.00 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 0.04%, -0.41%, and 8.51% respectively.
Institutional ownership of GE HealthCare Technologies Inc. (NASDAQ: GEHC) shares accounts for 56.98% of the company’s 454.68M shares outstanding. Mutual fund holders own 20.11%, while other institutional holders and individual stakeholders account for 37.01% and 1.65% respectively.
It has a market capitalization of $36.11B. The stock’s trailing 12-month PE ratio is 20.43, while the earnings-per-share (ttm) stands at $3.87. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.13% over the week and 2.48% over the month.
Analysts forecast that GE HealthCare Technologies Inc. (GEHC) will achieve an EPS of $0.85 for the current quarter, $0.89 for the next quarter and $4.3 for 2024. The lowest estimate earnings-per-share for the quarter is $0.81 while analysts give the company a high EPS estimate of $0.89. Earnings per share for the fiscal year are expected to decrease by -14.70%, and 15.39% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate GE HealthCare Technologies Inc. (GEHC) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
