Federated Hermes Inc. Reduces Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Federated Hermes Inc. lessened its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,387 shares of the company’s stock after selling 2,302 shares during the quarter. Federated Hermes Inc.’s holdings in GE HealthCare Technologies were worth $5,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares in the last quarter. Invesco Ltd. increased its position in GE HealthCare Technologies by 21.4% during the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after purchasing an additional 889,297 shares in the last quarter. Bank of New York Mellon Corp increased its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock worth $298,043,000 after purchasing an additional 315,808 shares in the last quarter. Northern Trust Corp boosted its stake in GE HealthCare Technologies by 8.9% in the 3rd quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after buying an additional 342,040 shares during the last quarter. Finally, Gates Capital Management Inc. boosted its stake in GE HealthCare Technologies by 17.5% in the 3rd quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after buying an additional 402,900 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore ISI raised their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price target for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Argus raised their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Morgan Stanley raised their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Finally, Citigroup lifted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.09.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $85.95 on Friday. The stock’s 50 day moving average price is $88.91 and its 200 day moving average price is $78.32. The firm has a market capitalization of $39.22 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. 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 Inc. has a one year low of $62.35 and a one year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. GE HealthCare Technologies’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. As a group, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

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.