PDT Partners LLC Decreases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

PDT Partners LLC lowered its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,056 shares of the company’s stock after selling 14,308 shares during the quarter. PDT Partners LLC’s holdings in GE HealthCare Technologies were worth $2,272,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in GE HealthCare Technologies in the fourth quarter worth approximately $20,891,000. Cathy Pareto & Associates Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $670,000. Principal Financial Group Inc. grew its position in shares of GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after buying an additional 19,010 shares during the last quarter. Everence Capital Management Inc. raised its stake in GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock worth $1,475,000 after acquiring an additional 10,220 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in GE HealthCare Technologies by 46.5% in the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock valued at $1,025,000 after acquiring an additional 4,160 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $68.09 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a market cap of $31.17 billion, a P/E ratio of 15.73, a PEG ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The company has a 50-day moving average price of $75.62 and a 200 day moving average price of $81.81.

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

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.21%. GE HealthCare Technologies’s payout ratio is 3.23%.

Analysts Set New Price Targets

Several brokerages have issued reports on GEHC. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. Citigroup raised 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. Wells Fargo & Company raised their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a “buy” rating in a report on Monday, April 14th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.50.

GE HealthCare Technologies 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.