GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by abrdn plc

abrdn plc lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 72.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 163,720 shares of the company’s stock after acquiring an additional 69,054 shares during the quarter. abrdn plc’s holdings in GE HealthCare Technologies were worth $12,659,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GEHC. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 5,693,244 shares during the last quarter. Ameriprise Financial Inc. raised its position in GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after purchasing an additional 1,221,436 shares during the last quarter. Envestnet Asset Management Inc. raised its position in GE HealthCare Technologies by 1,323.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock valued at $69,682,000 after purchasing an additional 952,182 shares during the last quarter. Invesco Ltd. raised its position in GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after purchasing an additional 889,297 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in GE HealthCare Technologies in the 3rd quarter valued at $55,152,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GEHC shares. Morgan Stanley upped their price target on shares of 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. Evercore ISI upped their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup upped their price objective on shares of 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 upped their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, HSBC began coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $95.09.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $85.95 on Friday. The stock has a market cap 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 quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm’s fifty day simple moving average is $88.91 and its 200-day simple moving average is $78.32. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50.

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

GE HealthCare Technologies Announces Dividend

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

About GE HealthCare Technologies

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.