Trexquant Investment LP Acquires New Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Trexquant Investment LP bought a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, Holdings Channel.com reports. The fund bought 61,361 shares of the company’s stock, valued at approximately $4,797,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cathy Pareto & Associates Inc. bought a new position in GE HealthCare Technologies during the fourth quarter valued at about $670,000. Principal Financial Group Inc. boosted its position in shares of GE HealthCare Technologies by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after purchasing an additional 19,010 shares in the last quarter. Everence Capital Management Inc. boosted its position in shares of GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after purchasing an additional 10,220 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of GE HealthCare Technologies by 9.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,996 shares of the company’s stock worth $13,702,000 after purchasing an additional 12,908 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of GE HealthCare Technologies by 46.5% in the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock worth $1,025,000 after purchasing an additional 4,160 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $60.51 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The firm has a market cap of $27.67 billion, a PE ratio of 13.97, a PEG ratio of 3.19 and a beta of 1.14. The firm’s 50 day moving average price is $85.41 and its 200 day moving average price is $85.43. GE HealthCare Technologies Inc. has a twelve month low of $58.04 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. The business had revenue of $5.32 billion for 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%. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is 3.23%.

Analysts Set New Price Targets

Several research firms have issued reports on GEHC. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.73.

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.