Geode Capital Management LLC Acquires 342,819 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Geode Capital Management LLC grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,320,576 shares of the company’s stock after purchasing an additional 342,819 shares during the period. Geode Capital Management LLC’s holdings in GE HealthCare Technologies were worth $882,777,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreFirst Bank & Trust purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies during the 4th quarter worth $28,000. Continuum Advisory LLC grew its stake in shares of GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares in the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $32,000. Finally, OFI Invest Asset Management bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at about $34,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

GE HealthCare Technologies Trading Down 0.3 %

Shares of GEHC opened at $79.36 on Thursday. The firm has a market cap of $36.29 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The business has a 50-day moving average of $86.30 and a 200 day moving average of $85.71.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share 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 the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.23%.

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.