APG Asset Management N.V. Grows Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

APG Asset Management N.V. increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1,111.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,010 shares of the company's stock after buying an additional 234,877 shares during the quarter. APG Asset Management N.V. owned about 0.06% of GE HealthCare Technologies worth $19,329,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GEHC. Norges Bank acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $488,531,000. Van ECK Associates Corp increased its position in GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after purchasing an additional 2,506,417 shares during the period. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after buying an additional 2,155,429 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock valued at $630,751,000 after buying an additional 1,252,613 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of GE HealthCare Technologies by 53.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company's stock valued at $268,047,000 after buying an additional 1,194,983 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on GEHC. The Goldman Sachs Group upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the stock 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 company an "overweight" rating in a report on Friday, February 14th. Citigroup boosted their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.73.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC traded down $1.54 during trading hours on Tuesday, reaching $62.85. 1,865,451 shares of the company traded hands, compared to its average volume of 3,129,941. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The stock has a market cap of $28.74 billion, a P/E ratio of 14.52, a P/E/G ratio of 3.19 and a beta of 1.14. The firm's 50-day moving average is $81.29 and its 200-day moving average is $83.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly 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. The company had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.23%.

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.