South Dakota Investment Council Has $7.60 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

South Dakota Investment Council increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 272.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,262 shares of the company's stock after purchasing an additional 71,857 shares during the quarter. South Dakota Investment Council's holdings in GE HealthCare Technologies were worth $7,598,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company's stock worth $3,029,917,000 after purchasing an additional 5,693,244 shares during the last quarter. Invesco Ltd. grew its stake in shares of GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company's stock worth $343,484,000 after purchasing an additional 889,297 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of GE HealthCare Technologies by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company's stock worth $298,043,000 after purchasing an additional 315,808 shares during the last quarter. Northern Trust Corp grew its stake in shares of GE HealthCare Technologies by 8.9% in the 3rd quarter. Northern Trust Corp now owns 4,205,506 shares of the company's stock worth $286,143,000 after purchasing an additional 342,040 shares during the last quarter. Finally, Gates Capital Management Inc. grew its stake in shares of GE HealthCare Technologies by 17.5% in the 3rd quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company's stock worth $184,309,000 after purchasing an additional 402,900 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GEHC. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Citigroup boosted their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a "buy" rating in a report 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. HSBC began coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They set a "buy" rating and a $100.00 price target on the stock. 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, April 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.09.

GE HealthCare Technologies Stock Up 0.6 %

Shares of NASDAQ GEHC traded up $0.48 during mid-day trading on Wednesday, reaching $86.72. The company had a trading volume of 2,017,387 shares, compared to its average volume of 3,341,176. The stock has a fifty day moving average of $88.91 and a two-hundred day moving average of $78.27. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05. The company has a market capitalization of $39.57 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.93 and a beta of 0.94. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be given a dividend of $0.03 per share. 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 payout ratio is presently 3.97%.

GE HealthCare Technologies Company 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.