Jennison Associates LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 49.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,208,830 shares of the company’s stock after buying an additional 399,961 shares during the period. Jennison Associates LLC owned about 0.27% of GE HealthCare Technologies worth $93,467,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. First Command Advisory Services Inc. lifted its position in GE HealthCare Technologies by 36,900.0% during the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock valued at $25,000 after purchasing an additional 369 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth $29,000. Legacy Financial Group LLC purchased a new position in shares of GE HealthCare Technologies in the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of GE HealthCare Technologies during the third quarter valued at about $26,000. 82.06% of the stock is owned by institutional investors.
GE HealthCare Technologies Price Performance
Shares of GE HealthCare Technologies stock traded up $1.93 on Tuesday, hitting $86.24. 1,950,627 shares of the company were exchanged, compared to its average volume of 3,358,135. The stock has a market capitalization of $39.35 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.94 and a beta of 0.95. The company has a 50-day moving average price of $88.76 and a 200 day moving average price of $78.08. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.
GE HealthCare Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. GE HealthCare Technologies’s payout ratio is 3.97%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GEHC. HSBC began coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Argus increased their price target 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. Mizuho raised their price objective on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley raised their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Finally, UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $95.09.
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.