Capital Research Global Investors Purchases 2,608,066 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Capital Research Global Investors lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,832,004 shares of the company's stock after acquiring an additional 2,608,066 shares during the period. GE HealthCare Technologies makes up about 1.0% of Capital Research Global Investors' holdings, making the stock its 25th largest holding. Capital Research Global Investors owned 13.31% of GE HealthCare Technologies worth $4,755,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEHC. Cathy Pareto & Associates Inc. bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $670,000. Principal Financial Group Inc. grew its stake in GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company's stock worth $94,780,000 after buying an additional 19,010 shares in the last quarter. Everence Capital Management Inc. increased its holdings in shares of GE HealthCare Technologies by 118.2% in the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company's stock worth $1,475,000 after buying an additional 10,220 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock valued at $1,025,000 after buying an additional 4,160 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. lifted its holdings in shares of GE HealthCare Technologies by 139.9% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 7,484 shares of the company's stock worth $585,000 after acquiring an additional 4,364 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Trading Up 2.6 %

GE HealthCare Technologies stock traded up $1.71 during trading hours on Thursday, reaching $66.60. The stock had a trading volume of 3,958,879 shares, compared to its average volume of 3,227,713. The company has a fifty day simple moving average of $77.57 and a 200-day simple moving average of $82.50. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The stock has a market cap of $30.49 billion, a PE ratio of 15.39, a PEG ratio of 3.19 and a beta of 1.14. 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 announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed 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. This represents a $0.14 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's payout ratio is currently 3.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GEHC shares. Citigroup raised 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. Jefferies Financial Group raised GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. The Goldman Sachs Group raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and upped their target price for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Wells Fargo & Company upped their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and an average target price of $96.50.

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.