Russell Investments Group Ltd. Reduces Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Russell Investments Group Ltd. lowered its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after acquiring an additional 5,693,244 shares in the last quarter. Invesco Ltd. grew its position in GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Northern Trust Corp grew its position in GE HealthCare Technologies by 8.9% in the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after acquiring an additional 342,040 shares in the last quarter. Gates Capital Management Inc. grew its position in GE HealthCare Technologies by 17.5% in the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after acquiring an additional 402,900 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after acquiring an additional 1,221,436 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

GEHC has been the subject of several recent analyst reports. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley boosted their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Evercore ISI boosted 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. Citigroup boosted their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, HSBC initiated coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Stock Down 0.4 %

Shares of NASDAQ GEHC opened at $81.11 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. The firm has a market capitalization of $37.02 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 2.86 and a beta of 1.26. The stock has a 50 day moving average price of $87.81 and a 200 day moving average price of $79.30. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. GE HealthCare Technologies’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insider Buying and Selling

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of GE HealthCare Technologies stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, with a total value of $100,623.80. Following the completion of the purchase, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by insiders.

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.