Procyon Advisors LLC Has $275,000 Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Procyon Advisors LLC lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,555 shares of the company’s stock after purchasing an additional 175 shares during the period. Procyon Advisors LLC’s holdings in GE HealthCare Technologies were worth $275,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after buying an additional 5,693,244 shares during the period. BlackRock Inc. acquired a new position in GE HealthCare Technologies during the second quarter valued at $2,334,660,000. State Street Corp acquired a new position in GE HealthCare Technologies during the second quarter valued at $1,532,290,000. Invesco Ltd. increased its position in GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after purchasing an additional 889,297 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in GE HealthCare Technologies by 7.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock worth $298,043,000 after purchasing an additional 315,808 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEHC. HSBC began coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 target price on the stock. Mizuho upped their target price on GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Morgan Stanley upped their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.73.

Read Our Latest Stock Analysis on GE HealthCare Technologies

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $90.91 on Friday. The business has a 50 day moving average price of $85.38 and a 200 day moving average price of $75.67. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a market cap of $41.40 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 3.14 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is presently 3.97%.

About GE HealthCare Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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