State Street Corp Acquires 1,347,114 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State Street Corp increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,615,890 shares of the company's stock after acquiring an additional 1,347,114 shares during the quarter. State Street Corp owned about 4.07% of GE HealthCare Technologies worth $1,747,101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp lifted its position in shares of GE HealthCare Technologies by 17.5% during the third quarter. Stifel Financial Corp now owns 262,924 shares of the company's stock worth $24,676,000 after acquiring an additional 39,094 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in GE HealthCare Technologies by 26.1% during the 3rd quarter. Quantinno Capital Management LP now owns 28,661 shares of the company's stock worth $2,690,000 after purchasing an additional 5,926 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in GE HealthCare Technologies by 2.8% in the 3rd quarter. Royal London Asset Management Ltd. now owns 176,437 shares of the company's stock worth $16,559,000 after purchasing an additional 4,802 shares during the period. Portolan Capital Management LLC bought a new position in GE HealthCare Technologies in the 3rd quarter worth about $12,822,000. Finally, Maven Securities LTD purchased a new position in GE HealthCare Technologies during the 3rd quarter valued at about $7,041,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. initiated coverage on GE HealthCare Technologies in a research report on Monday, September 9th. They issued a "neutral" rating and a $90.00 price objective on the stock. Evercore ISI boosted their target price on GE HealthCare Technologies from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. BTIG Research upgraded GE HealthCare Technologies from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Wednesday, September 18th. Finally, UBS Group downgraded GE HealthCare Technologies from a "neutral" rating to a "sell" rating and dropped their price target for the company from $84.00 to $74.00 in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $95.46.

GE HealthCare Technologies Stock Performance

GEHC traded down $0.33 during mid-day trading on Friday, reaching $81.24. 3,176,253 shares of the company traded hands, compared to its average volume of 3,491,310. The stock has a market capitalization of $37.12 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.97 and a beta of 1.07. GE HealthCare Technologies Inc. has a 52-week low of $67.00 and a 52-week high of $94.55. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The company's fifty day moving average price is $86.80 and its 200-day moving average price is $83.65.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.08. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the company posted $0.99 EPS. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies's previous quarterly dividend of $0.03. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 3.30%.

Insider Activity

In other GE HealthCare Technologies news, CEO Roland Rott sold 3,577 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $86.48, for a total value of $309,338.96. Following the completion of the transaction, the chief executive officer now directly owns 24,298 shares in the company, valued at $2,101,291.04. This represents a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

GE HealthCare Technologies 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.