Discovery Capital Management LLC CT Reduces Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Discovery Capital Management LLC CT decreased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 76.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,000 shares of the company's stock after selling 160,550 shares during the period. Discovery Capital Management LLC CT's holdings in GE HealthCare Technologies were worth $3,909,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of GE HealthCare Technologies in the fourth quarter valued at about $488,531,000. Van ECK Associates Corp grew its stake in shares of GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company's stock worth $378,520,000 after purchasing an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. increased its holdings in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. State Street Corp raised its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company's stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in GE HealthCare Technologies by 53.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company's stock worth $268,047,000 after buying an additional 1,194,983 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GEHC. Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of 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 report on Tuesday, March 11th. 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 research report on Thursday, February 13th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.73.

GE HealthCare Technologies Stock Down 16.0 %

NASDAQ:GEHC traded down $11.49 on Friday, reaching $60.51. 16,885,304 shares of the stock traded hands, compared to its average volume of 3,017,898. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $27.67 billion, a price-to-earnings ratio of 13.97, a PEG 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 company's fifty day simple moving average is $85.41 and its 200 day simple moving average is $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. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. Equities 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 paid a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.23%. GE HealthCare Technologies's dividend payout ratio is presently 3.23%.

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.