GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Increased by Jennison Associates LLC

Jennison Associates LLC grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 124.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,709,635 shares of the company's stock after purchasing an additional 948,017 shares during the period. Jennison Associates LLC owned 0.37% of GE HealthCare Technologies worth $133,659,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GEHC. LGT Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company's stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth about $31,000. Finally, Continuum Advisory LLC boosted its stake in shares of GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company's stock worth $31,000 after purchasing an additional 168 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GEHC has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.00.

Insider Activity

In other news, CEO Roland Rott sold 3,577 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total transaction of $309,338.96. Following the sale, the chief executive officer now owns 24,298 shares in the company, valued at $2,101,291.04. This trade represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company's stock.

GE HealthCare Technologies Trading Down 0.7 %

NASDAQ GEHC traded down $0.58 during mid-day trading on Tuesday, hitting $86.93. The company's stock had a trading volume of 2,488,015 shares, compared to its average volume of 2,666,542. GE HealthCare Technologies Inc. has a 52-week low of $72.61 and a 52-week high of $94.55. The stock's fifty day simple moving average is $83.06 and its two-hundred day simple moving average is $85.13. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market capitalization of $39.72 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 2.92 and a beta of 1.14.

GE HealthCare Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is a positive change from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.85%.

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.