Pictet Asset Management Holding SA Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Pictet Asset Management Holding SA grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 27.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,538 shares of the company’s stock after acquiring an additional 61,667 shares during the period. Pictet Asset Management Holding SA’s holdings in GE HealthCare Technologies were worth $22,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GEHC. Nomura Asset Management Co. Ltd. grew its stake in GE HealthCare Technologies by 3.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 150,331 shares of the company’s stock worth $11,753,000 after purchasing an additional 4,335 shares in the last quarter. Norges Bank purchased a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $488,531,000. Caisse Des Depots ET Consignations acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $336,000. Homestead Advisers Corp increased its stake in shares of GE HealthCare Technologies by 43.2% during the fourth quarter. Homestead Advisers Corp now owns 513,100 shares of the company’s stock worth $40,114,000 after buying an additional 154,700 shares during the period. Finally, NEOS Investment Management LLC raised its holdings in GE HealthCare Technologies by 23.9% in the fourth quarter. NEOS Investment Management LLC now owns 53,048 shares of the company’s stock valued at $4,147,000 after acquiring an additional 10,219 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Citigroup increased their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $80.71 on Tuesday. The company’s 50 day simple moving average is $86.62 and its 200-day simple moving average is $85.81. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The firm has a market cap of $36.91 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. As a group, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio (DPR) is currently 3.23%.

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.