Pinnacle Associates Ltd. Purchases 6,125 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Pinnacle Associates Ltd. boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) by 51.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,103 shares of the company’s stock after acquiring an additional 6,125 shares during the period. Pinnacle Associates Ltd.’s holdings in GE HealthCare Technologies were worth $1,400,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GEHC. State Street Corp bought a new stake in GE HealthCare Technologies in the 2nd quarter worth $1,532,290,000. Vanguard Group Inc. increased its position in shares of 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. Nuveen Asset Management LLC purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at about $112,365,000. Trian Fund Management L.P. purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at about $109,092,000. Finally, State Farm Mutual Automobile Insurance Co. purchased a new position in shares of GE HealthCare Technologies during the second quarter valued at about $107,980,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GEHC. HSBC began coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price target on the stock. Morgan Stanley boosted their price target on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Argus boosted their price target on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Finally, Mizuho upped their price objective on shares of GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.45.

View Our Latest Research Report on GE HealthCare Technologies

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $89.53 on Tuesday. The firm’s 50-day simple moving average is $85.68 and its two-hundred day simple moving average is $75.98. The stock has a market cap of $40.77 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 3.16 and a beta of 0.95. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05.

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

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies Company Profile

(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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