DnB Asset Management AS Boosts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

DnB Asset Management AS boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,582 shares of the company's stock after purchasing an additional 6,257 shares during the period. DnB Asset Management AS's holdings in GE HealthCare Technologies were worth $6,144,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. Continuum Advisory LLC increased its holdings in GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company's stock valued at $31,000 after buying an additional 168 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies in the fourth quarter worth approximately $32,000. Finally, OFI Invest Asset Management purchased a new position in shares of GE HealthCare Technologies during the 4th quarter worth $34,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

GEHC stock traded down $11.49 during midday trading on Friday, hitting $60.51. The company's stock had a trading volume of 16,885,304 shares, compared to its average volume of 3,017,919. The firm has a market capitalization of $27.67 billion, a price-to-earnings ratio of 13.97, 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. GE HealthCare Technologies Inc. has a 12 month low of $58.15 and a 12 month high of $94.80. The company has a 50 day moving average of $85.41 and a two-hundred day moving average of $85.44.

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 for the quarter, topping analysts' consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.23%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEHC. The Goldman Sachs Group upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a research report 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 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.73.

GE HealthCare Technologies Company 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.