First Trust Direct Indexing L.P. Raises Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

First Trust Direct Indexing L.P. lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,674 shares of the company’s stock after buying an additional 1,353 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in GE HealthCare Technologies were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. First Command Advisory Services Inc. increased its holdings 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 valued at $25,000 after buying an additional 369 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new position in GE HealthCare Technologies in the 4th quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new position in GE HealthCare Technologies during the third quarter worth $26,000. Finally, Central Bank & Trust Co. purchased a new stake in GE HealthCare Technologies during the fourth quarter worth $33,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $79.47 on Friday. The company has a market cap of $36.27 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.86 and a beta of 1.26. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The stock’s 50-day moving average is $88.25 and its 200-day moving average is $78.89.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting the consensus estimate of $0.90. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.51%.

Insider Activity at GE HealthCare Technologies

In other news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the acquisition, the insider now directly owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GEHC shares. Evercore ISI lifted 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. Morgan Stanley lifted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Argus increased their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. HSBC started coverage on 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. Finally, Mizuho lowered their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. 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, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average price target of $95.00.

GE HealthCare Technologies 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.