Trexquant Investment LP Purchases New Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Trexquant Investment LP acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,361 shares of the company's stock, valued at approximately $4,797,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in GE HealthCare Technologies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock worth $882,777,000 after buying an additional 342,819 shares in the last quarter. Diametric Capital LP purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $203,000. Nemes Rush Group LLC grew its holdings in GE HealthCare Technologies by 256.7% in the fourth quarter. Nemes Rush Group LLC now owns 849 shares of the company's stock worth $66,000 after purchasing an additional 611 shares during the last quarter. National Bank of Canada FI boosted its position in GE HealthCare Technologies by 262.4% in the fourth quarter. National Bank of Canada FI now owns 443,248 shares of the company's stock valued at $34,661,000 after buying an additional 320,924 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of GE HealthCare Technologies by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 67,536 shares of the company's stock valued at $5,280,000 after purchasing an additional 1,105 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

GEHC traded down $4.54 during midday trading on Thursday, reaching $60.44. The company had a trading volume of 1,423,420 shares, compared to its average volume of 3,082,704. The stock has a market cap of $27.64 billion, a PE ratio of 13.98, a P/E/G ratio of 3.19 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The business has a 50-day moving average price of $82.73 and a two-hundred day moving average price of $84.47. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

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

GE HealthCare Technologies Announces Dividend

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 given a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.23%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Wells Fargo & Company lifted their price objective 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, Citigroup increased their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.73.

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.