Canada Pension Plan Investment Board Acquires 124,651 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Canada Pension Plan Investment Board lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,701,762 shares of the company's stock after buying an additional 124,651 shares during the period. Canada Pension Plan Investment Board owned about 0.59% of GE HealthCare Technologies worth $211,224,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GEHC. Morse Asset Management Inc bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $613,000. Diamant Asset Management Inc. boosted its stake in GE HealthCare Technologies by 4.2% in the third quarter. Diamant Asset Management Inc. now owns 10,257 shares of the company's stock valued at $963,000 after acquiring an additional 410 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of GE HealthCare Technologies by 29.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,761 shares of the company's stock valued at $1,948,000 after acquiring an additional 4,738 shares during the period. World Investment Advisors LLC grew its holdings in GE HealthCare Technologies by 44.5% during the third quarter. World Investment Advisors LLC now owns 4,716 shares of the company's stock valued at $443,000 after purchasing an additional 1,453 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its position in GE HealthCare Technologies by 150.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 11,278 shares of the company's stock worth $1,058,000 after buying an additional 6,770 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded up $1.61 during trading hours on Tuesday, hitting $62.09. 1,645,236 shares of the company's stock were exchanged, compared to its average volume of 3,836,985. 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 12-month low of $57.65 and a 12-month high of $94.80. The business's 50 day simple moving average is $78.76 and its 200-day simple moving average is $82.77. The company has a market capitalization of $28.43 billion, a PE ratio of 14.34, a PEG ratio of 3.19 and a beta of 1.14.

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, beating the consensus estimate 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 analysts' expectations of $5.33 billion. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GEHC. The Goldman Sachs Group raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Citigroup lifted their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company increased their target price 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. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Finally, Jefferies Financial Group upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.27.

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.