Van ECK Associates Corp Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Van ECK Associates Corp purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 57,881 shares of the company's stock, valued at approximately $4,475,000.

Several other institutional investors have also made changes to their positions in the company. First Command Advisory Services Inc. lifted its holdings in GE HealthCare Technologies by 36,900.0% in 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. Fortitude Family Office LLC acquired a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $30,000. OFI Invest Asset Management acquired a new stake in GE HealthCare Technologies in the 3rd quarter worth approximately $26,000. Finally, Central Bank & Trust Co. acquired a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $33,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $0.33 on Monday, reaching $79.80. 2,389,680 shares of the stock traded hands, compared to its average volume of 3,440,311. The stock's 50-day moving average price is $88.25 and its 200-day moving average price is $79.07. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The firm has a market cap of $36.43 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 2.86 and a beta of 1.26. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, meeting analysts' consensus estimates of $0.90. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The firm had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.80 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies's dividend payout ratio (DPR) is 3.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEHC shares. Argus lifted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Bank of America dropped their price target on GE HealthCare Technologies from $94.00 to $86.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 1st. HSBC started coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a "buy" rating and a $100.00 price target on the stock. Citigroup lifted their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI lifted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Insider Buying and Selling at GE HealthCare Technologies

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now owns 75,796 shares in the company, valued at $5,799,909.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company's stock.

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.