Jennison Associates LLC Has $120.27 Million Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jennison Associates LLC trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,490,193 shares of the company's stock after selling 219,442 shares during the period. Jennison Associates LLC owned 0.33% of GE HealthCare Technologies worth $120,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new position in GE HealthCare Technologies in the 4th quarter worth $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $28,000. Bogart Wealth LLC raised its stake in shares of GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares in the last quarter. Stonebridge Financial Group LLC raised its stake in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. Finally, LGT Financial Advisors LLC raised its stake in shares of GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GEHC shares. Wells Fargo & Company lowered their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Evercore ISI lowered their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Trading Down 0.4%

Shares of NASDAQ:GEHC traded down $0.28 during mid-day trading on Friday, hitting $75.96. The stock had a trading volume of 3,383,572 shares, compared to its average volume of 3,560,874. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The company has a market cap of $34.78 billion, a PE ratio of 15.99, a P/E/G ratio of 2.56 and a beta of 1.14. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company's 50 day moving average is $72.98 and its 200-day moving average is $77.22.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business posted $0.90 EPS. GE HealthCare Technologies's quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.95%.

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.