Russell Investments Group Ltd. Has $6.20 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Russell Investments Group Ltd. lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,175 shares of the company's stock after selling 11,882 shares during the period. Russell Investments Group Ltd.'s holdings in GE HealthCare Technologies were worth $6,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC raised its stake in GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company's stock valued at $93,467,000 after buying an additional 399,961 shares in the last quarter. South Dakota Investment Council boosted its holdings in GE HealthCare Technologies by 272.1% in the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company's stock valued at $7,598,000 after purchasing an additional 71,857 shares in the last quarter. Cerity Partners LLC increased its stake in GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company's stock valued at $3,551,000 after purchasing an additional 9,809 shares during the last quarter. Fifth Third Bancorp raised its holdings in GE HealthCare Technologies by 3.9% during the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company's stock worth $2,600,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in shares of GE HealthCare Technologies by 22.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company's stock worth $33,731,000 after buying an additional 79,073 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded up $1.62 on Thursday, reaching $82.73. 1,952,523 shares of the stock were exchanged, compared to its average volume of 3,413,702. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $37.76 billion, a PE ratio of 24.19, a PEG ratio of 2.86 and a beta of 1.26. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The business has a fifty day moving average price of $87.40 and a two-hundred day moving average price of $79.33.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business posted $0.85 EPS. The company's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.27 earnings per share 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. Stockholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.51%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Monday, February 12th. Evercore ISI upped their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $66.00 to $88.00 in a research report on Monday, February 12th. Citigroup raised their target price on shares of 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, Argus upped their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Insider Activity

In related news, insider Frank R. Jimenez acquired 1,315 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.27% of the company's stock.

About GE HealthCare Technologies

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.