Summit Trail Advisors LLC Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Summit Trail Advisors LLC raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 21.2% during the fourth quarter, HoldingsChannel reports. The firm owned 5,934 shares of the company’s stock after purchasing an additional 1,036 shares during the period. Summit Trail Advisors LLC’s holdings in GE HealthCare Technologies were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GEHC. Mesirow Financial Investment Management Inc. increased its position in shares of GE HealthCare Technologies by 39.6% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,084 shares of the company’s stock valued at $383,000 after purchasing an additional 1,159 shares during the last quarter. Cathy Pareto & Associates Inc. bought a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $670,000. LMR Partners LLP bought a new position in GE HealthCare Technologies during the third quarter valued at approximately $7,387,000. Principal Financial Group Inc. raised its stake in shares of GE HealthCare Technologies by 1.9% during the third quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after acquiring an additional 19,010 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter worth approximately $1,396,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $87.03 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12. The firm has a market cap of $39.76 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.93 and a beta of 1.15. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.55. The firm has a 50-day moving average of $83.52 and a 200-day moving average of $85.38.

GE HealthCare Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.14 annualized dividend and a yield of 0.16%. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analyst Weigh In

Several research firms recently commented on GEHC. Wells Fargo & Company increased their target price on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.00.

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.