Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,366 shares of the company’s stock after acquiring an additional 618 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GE HealthCare Technologies were worth $3,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of GEHC. First Command Advisory Services Inc. increased its position in GE HealthCare Technologies by 36,900.0% in the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after buying an additional 369 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in GE HealthCare Technologies in the third quarter worth $26,000. OFI Invest Asset Management purchased a new stake in GE HealthCare Technologies in the third quarter worth $26,000. ORG Partners LLC increased its position in GE HealthCare Technologies by 174.2% in the third quarter. ORG Partners LLC now owns 425 shares of the company’s stock worth $29,000 after buying an additional 270 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter worth $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $86.24 on Wednesday. The firm has a market capitalization of $39.35 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 2.93 and a beta of 0.94. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The stock has a fifty day moving average of $88.84 and a 200 day moving average of $78.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.97%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup raised their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Argus lifted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Mizuho lifted their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.09.

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.