Resona Asset Management Co. Ltd. Invests $10.68 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Resona Asset Management Co. Ltd. bought a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 136,248 shares of the company's stock, valued at approximately $10,678,000.

Several other institutional investors and hedge funds have also modified their holdings of GEHC. Wells Fargo & Company MN boosted its position in GE HealthCare Technologies by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,165,035 shares of the company's stock valued at $91,082,000 after purchasing an additional 14,794 shares during the last quarter. Prudential PLC grew its stake in shares of GE HealthCare Technologies by 48.9% in the 4th quarter. Prudential PLC now owns 10,719 shares of the company's stock valued at $838,000 after buying an additional 3,519 shares in the last quarter. World Investment Advisors increased its holdings in GE HealthCare Technologies by 6.3% in the fourth quarter. World Investment Advisors now owns 5,012 shares of the company's stock worth $392,000 after buying an additional 296 shares during the last quarter. Westpac Banking Corp raised its position in GE HealthCare Technologies by 25.1% during the fourth quarter. Westpac Banking Corp now owns 2,879 shares of the company's stock valued at $225,000 after acquiring an additional 578 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in GE HealthCare Technologies by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,310,631 shares of the company's stock valued at $102,465,000 after acquiring an additional 312,088 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $0.06 during trading hours on Friday, hitting $62.22. 2,499,225 shares of the company traded hands, compared to its average volume of 3,105,451. 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 twelve month low of $57.65 and a twelve month high of $94.80. The firm has a 50-day moving average of $82.23 and a 200 day moving average of $84.27. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently disclosed 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. 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 presently 3.23%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a report on Friday, February 14th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Finally, Citigroup boosted their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.