Pictet Asset Management Holding SA Purchases 61,667 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Pictet Asset Management Holding SA increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 285,538 shares of the company's stock after acquiring an additional 61,667 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of GE HealthCare Technologies worth $22,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies during the 4th quarter valued at about $28,000. Continuum Advisory LLC boosted its holdings 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 valued at $31,000 after acquiring an additional 168 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of 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 fourth quarter valued at approximately $34,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded down $11.49 during midday trading on Friday, reaching $60.51. The stock had a trading volume of 16,885,304 shares, compared to its average volume of 3,023,599. The company 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. GE HealthCare Technologies Inc. has a 12-month low of $58.04 and a 12-month high of $94.80. The stock has a 50-day moving average of $85.41 and a 200-day moving average of $85.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly 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. The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GEHC shares. Citigroup raised 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. Wells Fargo & Company raised their price target on 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 upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and raised their target price 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus 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.