GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Lessened by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 9.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,737 shares of the company’s stock after selling 2,174 shares during the period. Kestra Private Wealth Services LLC’s holdings in GE HealthCare Technologies were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GEHC. State Street Corp lifted its holdings in shares of GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after buying an additional 1,347,114 shares during the period. Geode Capital Management LLC raised its holdings in shares of GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after acquiring an additional 733,819 shares during the period. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $268,159,000. Charles Schwab Investment Management Inc. boosted its stake in GE HealthCare Technologies by 12.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,710,938 shares of the company’s stock worth $254,422,000 after purchasing an additional 290,019 shares during the period. Finally, Van ECK Associates Corp purchased a new position in GE HealthCare Technologies during the 3rd quarter worth approximately $208,513,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies has an average rating of “Moderate Buy” and a consensus target price of $96.77.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock opened at $85.90 on Thursday. The company has a market cap of $39.25 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.55. The firm has a fifty day moving average price of $83.58 and a two-hundred day moving average price of $85.39.

GE HealthCare Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s payout ratio is currently 3.85%.

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.