JPMorgan Chase & Co. Boosts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

JPMorgan Chase & Co. grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 53.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,428,586 shares of the company's stock after acquiring an additional 1,194,983 shares during the quarter. JPMorgan Chase & Co. owned about 0.75% of GE HealthCare Technologies worth $268,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GEHC. CoreFirst Bank & Trust acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth about $25,000. Continuum Advisory LLC boosted its holdings in shares of GE HealthCare Technologies by 101.8% in the third quarter. Continuum Advisory LLC now owns 333 shares of the company's stock valued at $31,000 after acquiring an additional 168 shares during the period. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $32,000. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GEHC traded down $11.49 during mid-day 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 company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 1-year low of $58.15 and a 1-year high of $94.80. The firm has a market capitalization of $27.67 billion, a P/E ratio of 13.97, a P/E/G ratio of 3.19 and a beta of 1.13. The firm has a 50-day simple moving average of $85.41 and a 200 day simple moving average of $85.44.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. Analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.23%. GE HealthCare Technologies's payout ratio is currently 3.23%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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 raised their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Citigroup boosted their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group raised 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. One equities research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.