Sector Gamma AS lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,531 shares of the company's stock after buying an additional 17,942 shares during the period. GE HealthCare Technologies makes up 4.6% of Sector Gamma AS's investment portfolio, making the stock its 7th largest holding. Sector Gamma AS owned about 0.05% of GE HealthCare Technologies worth $19,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of GEHC. First Command Advisory Services Inc. grew its position in GE HealthCare Technologies by 36,900.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company's stock worth $25,000 after purchasing an additional 369 shares during the last quarter. Legacy Financial Group LLC purchased a new position in GE HealthCare Technologies during the 3rd quarter worth $26,000. OFI Invest Asset Management purchased a new position in GE HealthCare Technologies during the 3rd quarter worth $26,000. ORG Partners LLC boosted its holdings in shares of GE HealthCare Technologies by 174.2% in the third quarter. ORG Partners LLC now owns 425 shares of the company's stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.
GE HealthCare Technologies Price Performance
GEHC traded up $0.29 during midday trading on Friday, reaching $86.24. 1,790,728 shares of the company's stock were exchanged, compared to its average volume of 2,231,738. 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 stock has a market capitalization of $39.35 billion, a PE ratio of 28.56, a P/E/G ratio of 2.99 and a beta of 0.94. The business's 50-day moving average price is $88.92 and its 200 day moving average price is $78.52. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its 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 company had revenue of $5.20 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.
GE HealthCare Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies's payout ratio is currently 3.97%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on GEHC. HSBC began coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a "buy" rating and a $100.00 target price on the stock. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lifted their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. Argus lifted their target price 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. Evercore ISI raised their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, April 4th. Finally, Citigroup raised their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $95.09.
Check Out Our Latest Research Report on GE HealthCare Technologies
GE HealthCare Technologies Profile
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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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