GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Raised by Prudential PLC

Prudential PLC raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 48.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,719 shares of the company’s stock after purchasing an additional 3,519 shares during the quarter. Prudential PLC’s holdings in GE HealthCare Technologies were worth $838,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GEHC. Norges Bank bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $488,531,000. Van ECK Associates Corp boosted its position in shares of GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of GE HealthCare Technologies by 53.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company’s stock worth $268,047,000 after purchasing an additional 1,194,983 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in GE HealthCare Technologies by 124.5% during the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock valued at $133,659,000 after purchasing an additional 948,017 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on GEHC shares. Wells Fargo & Company upped their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. Finally, Citigroup boosted their price objective on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.73.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $60.99 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company has a market capitalization of $27.89 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 3.19 and a beta of 1.14. The business’s 50-day moving average is $84.85 and its 200-day moving average is $85.20. GE HealthCare Technologies Inc. has a fifty-two week low of $58.04 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s payout ratio is currently 3.23%.

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.