Allstate Corp Invests $1.08 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allstate Corp bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,824 shares of the company's stock, valued at approximately $1,081,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. State Street Corp increased its holdings in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company's stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the period. Geode Capital Management LLC increased its holdings in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company's stock valued at $1,026,898,000 after purchasing an additional 733,819 shares during the period. Norges Bank purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $488,531,000. Finally, Van ECK Associates Corp raised its holdings in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock valued at $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Down 16.0 %

Shares of GEHC traded down $11.49 during trading hours on Friday, hitting $60.51. The company had a trading volume of 16,885,304 shares, compared to its average volume of 3,017,919. The stock has a market capitalization of $27.67 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 3.19 and a beta of 1.13. The firm has a fifty day moving average price of $85.41 and a 200-day moving average price of $85.44. GE HealthCare Technologies Inc. has a 52-week low of $58.15 and a 52-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.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.33 billion. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm 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 dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.23%. GE HealthCare Technologies's dividend payout ratio is 3.23%.

Analysts Set New Price Targets

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

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.