Alliancebernstein L.P. Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Alliancebernstein L.P. cut its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,127,669 shares of the company's stock after selling 220,133 shares during the period. Alliancebernstein L.P. owned 1.34% of GE HealthCare Technologies worth $479,061,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $25,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $28,000. Continuum Advisory LLC grew its stake in GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company's stock valued at $31,000 after acquiring an additional 168 shares during the period. Bank of Jackson Hole Trust purchased a new stake in GE HealthCare Technologies in the 4th quarter worth $32,000. Finally, OFI Invest Asset Management acquired a new position in GE HealthCare Technologies during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 12.6 %

Shares of GE HealthCare Technologies stock traded down $9.06 during mid-day trading on Friday, hitting $62.94. The stock had a trading volume of 10,427,110 shares, compared to its average volume of 2,992,183. The firm has a market cap of $28.78 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $85.98 and a two-hundred day moving average of $85.62. GE HealthCare Technologies Inc. has a 12-month low of $58.15 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio is presently 3.23%.

Analysts Set New Price Targets

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

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.