Vanguard Group Inc. Acquires 2,155,429 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Vanguard Group Inc. boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,537,446 shares of the company's stock after purchasing an additional 2,155,429 shares during the period. Vanguard Group Inc. owned about 11.50% of GE HealthCare Technologies worth $4,107,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cherry Creek Investment Advisors Inc. grew its holdings in shares of GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock worth $2,920,000 after buying an additional 114 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of GE HealthCare Technologies by 6.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock worth $158,000 after acquiring an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV raised its holdings in shares of GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after purchasing an additional 118 shares during the last quarter. Arcus Capital Partners LLC lifted its position in shares of GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock worth $322,000 after purchasing an additional 119 shares in the last quarter. Finally, Custom Index Systems LLC boosted its holdings in GE HealthCare Technologies by 4.4% during the fourth quarter. Custom Index Systems LLC now owns 2,843 shares of the company's stock worth $222,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

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GE HealthCare Technologies Stock Performance

Shares of GEHC traded down $1.65 during trading hours on Friday, hitting $80.01. The company had a trading volume of 3,189,762 shares, compared to its average volume of 2,933,669. The firm has a market cap 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 company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $86.70 and a 200-day moving average of $85.86. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. Equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a $0.035 dividend. 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 is 3.23%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GEHC. Citigroup lifted their price target 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 price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. The Goldman Sachs Group raised GE HealthCare Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.75.

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.