DekaBank Deutsche Girozentrale Lowers Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

DekaBank Deutsche Girozentrale decreased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 56.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,033 shares of the company’s stock after selling 69,137 shares during the period. DekaBank Deutsche Girozentrale’s holdings in GE HealthCare Technologies were worth $4,148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Sky Investment Group LLC increased its holdings in shares of GE HealthCare Technologies by 15.0% during the 4th quarter. Sky Investment Group LLC now owns 50,232 shares of the company’s stock worth $3,884,000 after buying an additional 6,556 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 42.0% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 4,866 shares of the company’s stock worth $376,000 after purchasing an additional 1,440 shares during the period. Reliant Investment Management LLC raised its holdings in shares of GE HealthCare Technologies by 1.6% in the 4th quarter. Reliant Investment Management LLC now owns 55,825 shares of the company’s stock worth $4,316,000 after purchasing an additional 867 shares during the period. Highlander Capital Management LLC lifted its stake in shares of GE HealthCare Technologies by 7.2% in the 4th quarter. Highlander Capital Management LLC now owns 2,997 shares of the company’s stock valued at $232,000 after purchasing an additional 200 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of GE HealthCare Technologies by 8,158.8% during the 4th quarter. International Assets Investment Management LLC now owns 605,290 shares of the company’s stock worth $46,801,000 after purchasing an additional 597,961 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GEHC shares. HSBC initiated 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. Mizuho upped their price target on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Argus raised their price objective on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Morgan Stanley boosted their price objective 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, Evercore ISI increased their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.08.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $88.21 on Friday. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The stock has a market cap of $40.25 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 3.05 and a beta of 0.94. The stock has a 50 day moving average of $87.97 and a 200-day moving average of $77.08.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 EPS. On average, analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is currently 3.97%.

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.