Federated Hermes Inc. Acquires 38,415 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Federated Hermes Inc. boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 115.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 71,733 shares of the company’s stock after buying an additional 38,415 shares during the quarter. Federated Hermes Inc.’s holdings in GE HealthCare Technologies were worth $5,608,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GEHC. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the fourth quarter worth about $25,000. Continuum Advisory LLC raised its holdings in GE HealthCare Technologies by 101.8% during the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $28,000. Bank of Jackson Hole Trust bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at $32,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $34,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

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

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $62.81 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a fifty day simple moving average of $81.75 and a two-hundred day simple moving average of $84.06. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a market capitalization of $28.72 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.33 billion. Analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. GE HealthCare Technologies’s payout ratio is 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.