GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Capital Research Global Investors

Capital Research Global Investors increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,832,004 shares of the company’s stock after acquiring an additional 2,608,066 shares during the period. GE HealthCare Technologies makes up about 1.0% of Capital Research Global Investors’ investment portfolio, making the stock its 25th largest position. Capital Research Global Investors owned approximately 0.13% of GE HealthCare Technologies worth $4,755,851,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GEHC. Norges Bank purchased a new stake in GE HealthCare Technologies during the fourth quarter valued at about $488,531,000. Van ECK Associates Corp raised its holdings in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after acquiring an additional 2,506,417 shares during the period. Vanguard Group Inc. lifted its position in shares of GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares in the last quarter. Invesco Ltd. boosted its stake in GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the period. Finally, JPMorgan Chase & Co. grew its position in GE HealthCare Technologies by 53.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company’s stock worth $268,047,000 after purchasing an additional 1,194,983 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEHC. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company 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 research report on Thursday, February 13th. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company raised their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.27.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $62.37 on Friday. The firm has a 50 day moving average of $79.26 and a two-hundred day moving average of $83.09. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a market capitalization of $28.56 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 3.19 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The firm 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, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 yield of 0.22%. GE HealthCare Technologies’s 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.