United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,463 shares of the company's stock after buying an additional 9,166 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in GE HealthCare Technologies were worth $3,632,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Graney & King LLC bought a new position in GE HealthCare Technologies in the 4th quarter worth approximately $75,000. Trust Investment Advisors lifted its stake in shares of GE HealthCare Technologies by 55.5% during the fourth quarter. Trust Investment Advisors now owns 8,350 shares of the company's stock valued at $653,000 after acquiring an additional 2,979 shares during the period. TIAA Trust National Association boosted its holdings in GE HealthCare Technologies by 2.8% in the fourth quarter. TIAA Trust National Association now owns 10,604 shares of the company's stock valued at $829,000 after acquiring an additional 291 shares during the last quarter. Modern Wealth Management LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter worth about $187,000. Finally, EntryPoint Capital LLC bought a new stake in GE HealthCare Technologies during the 4th quarter worth about $357,000. 82.06% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on GEHC shares. Wells Fargo & Company raised their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Citigroup raised their price target 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $98.75.
View Our Latest Stock Analysis on GEHC
GE HealthCare Technologies Stock Down 2.0 %
Shares of NASDAQ GEHC traded down $1.65 during mid-day trading on Friday, reaching $80.01. 3,189,762 shares of the company's stock were exchanged, compared to its average volume of 2,933,671. GE HealthCare Technologies Inc. has a twelve month low of $74.51 and a twelve month high of $94.80. 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 firm has a market capitalization of $36.59 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.19 and a beta of 1.13. The business has a fifty day simple moving average of $86.70 and a 200 day simple moving average of $85.87.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS 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. Shareholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.23%.
GE HealthCare Technologies Company Profile
(
Free Report)
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.
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