Russell Investments Group Ltd. Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Russell Investments Group Ltd. lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 46.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 461,284 shares of the company’s stock after buying an additional 146,275 shares during the period. Russell Investments Group Ltd.’s holdings in GE HealthCare Technologies were worth $36,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $28,000. Continuum Advisory LLC grew its position in GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in GE HealthCare Technologies in the 4th quarter valued at $32,000. Finally, OFI Invest Asset Management purchased a new position in GE HealthCare Technologies during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

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

GE HealthCare Technologies Stock Up 0.8 %

GEHC opened at $60.99 on Tuesday. 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 company has a market cap of $27.89 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a one year low of $58.04 and a one year high of $94.80. The business’s fifty day moving average is $84.85 and its two-hundred day moving average is $85.20.

GE HealthCare Technologies (NASDAQ:GEHC) last issued 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 for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed 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 0.23%. GE HealthCare Technologies’s dividend payout ratio is currently 3.23%.

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.