Louisiana State Employees Retirement System purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 59,900 shares of the company's stock, valued at approximately $4,631,000.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company's stock valued at $3,029,917,000 after purchasing an additional 5,693,244 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of GE HealthCare Technologies during the second quarter valued at approximately $112,365,000. Trian Fund Management L.P. purchased a new stake in shares of GE HealthCare Technologies during the second quarter valued at approximately $109,092,000. Ameriprise Financial Inc. raised its stake in shares of GE HealthCare Technologies by 84.4% during the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company's stock valued at $181,578,000 after purchasing an additional 1,221,436 shares during the period. Finally, Barclays PLC purchased a new stake in shares of GE HealthCare Technologies during the second quarter valued at approximately $92,462,000. Hedge funds and other institutional investors own 82.06% of the company's stock.
GE HealthCare Technologies Stock Performance
Shares of NASDAQ GEHC traded down $1.93 during midday trading on Friday, reaching $86.28. 2,227,929 shares of the company traded hands, compared to its average volume of 2,984,033. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The stock has a 50-day moving average price of $88.21 and a 200 day moving average price of $77.36. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. The company has a market cap of $39.37 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.00 and a beta of 0.94.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.09 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.
GE HealthCare Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.97%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Citigroup lifted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. Argus boosted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a "buy" rating in a report on Monday, April 1st. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and boosted their price target for the company from $66.00 to $88.00 in a report on Monday, February 12th. Morgan Stanley boosted their price target on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. Finally, Mizuho boosted their price target on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.08.
View Our Latest Research Report on GEHC
About GE HealthCare Technologies
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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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