Price T Rowe Associates Inc. MD Cuts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Price T Rowe Associates Inc. MD decreased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,164,671 shares of the company's stock after selling 408,038 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.35% of GE HealthCare Technologies worth $481,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GEHC. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $28,000. Bank of Jackson Hole Trust bought a new stake in GE HealthCare Technologies in the fourth quarter worth $32,000. OFI Invest Asset Management purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at $34,000. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of GE HealthCare Technologies during the 4th quarter worth about $34,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup boosted their target price 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. Piper Sandler cut their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and upped their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.50.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded up $2.86 on Wednesday, hitting $70.95. 4,600,639 shares of the company were exchanged, compared to its average volume of 3,280,209. 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 stock's 50 day moving average price is $75.62 and its 200 day moving average price is $81.81. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The firm has a market capitalization of $32.48 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. GE HealthCare Technologies's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's payout ratio is currently 3.23%.

About GE HealthCare Technologies

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.