Envestnet Asset Management Inc. Acquires 25,487 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Envestnet Asset Management Inc. increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,159,772 shares of the company's stock after buying an additional 25,487 shares during the quarter. Envestnet Asset Management Inc. owned about 0.25% of GE HealthCare Technologies worth $90,671,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. lifted its position in GE HealthCare Technologies by 0.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock valued at $2,920,000 after purchasing an additional 114 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of GE HealthCare Technologies by 6.0% during the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after buying an additional 114 shares during the last quarter. Haverford Trust Co raised its holdings in shares of GE HealthCare Technologies by 2.4% during the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company's stock valued at $383,000 after buying an additional 115 shares during the last quarter. Tandem Capital Management Corp ADV grew its holdings in GE HealthCare Technologies by 0.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock worth $2,205,000 after buying an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC increased its position in GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after acquiring an additional 119 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Trading Up 1.8 %

NASDAQ GEHC traded up $1.11 on Monday, hitting $63.92. 825,605 shares of the stock were exchanged, compared to its average volume of 3,119,037. The company's 50-day moving average price is $81.75 and its two-hundred day moving average price is $84.00. The company has a market capitalization of $29.23 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. 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 posted its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's payout ratio is presently 3.23%.

Analyst Ratings Changes

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