Fmr LLC Trims Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Fmr LLC reduced its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,081,465 shares of the company’s stock after selling 84,361 shares during the period. Fmr LLC’s holdings in GE HealthCare Technologies were worth $162,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at $488,531,000. Van ECK Associates Corp boosted its stake in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after buying an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. grew its holdings in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. JPMorgan Chase & Co. raised its position in GE HealthCare Technologies by 53.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company’s stock valued at $268,047,000 after acquiring an additional 1,194,983 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock valued at $133,659,000 after acquiring an additional 948,017 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GEHC shares. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Citigroup raised their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.73.

GE HealthCare Technologies Trading Up 0.9 %

GEHC stock opened at $62.81 on Monday. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The business’s 50-day moving average is $81.75 and its 200 day moving average is $84.00. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The stock has a market cap of $28.72 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. On average, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 3.23%.

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.