First Trust Direct Indexing L.P. Has $671,000 Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

First Trust Direct Indexing L.P. raised its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 18.5% in the fourth quarter, Holdings Channel reports. The firm owned 8,674 shares of the company’s stock after buying an additional 1,353 shares during the period. First Trust Direct Indexing L.P.’s holdings in GE HealthCare Technologies were worth $671,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GEHC. 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 acquiring an additional 5,693,244 shares in the last quarter. Invesco Ltd. increased its stake in shares of GE HealthCare Technologies by 21.4% during 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. Bank of New York Mellon Corp raised its holdings in shares of GE HealthCare Technologies by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock valued at $298,043,000 after purchasing an additional 315,808 shares in the last quarter. Northern Trust Corp lifted its stake in shares of GE HealthCare Technologies by 8.9% in the 3rd quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock valued at $286,143,000 after purchasing an additional 342,040 shares during the last quarter. Finally, Gates Capital Management Inc. boosted its holdings in GE HealthCare Technologies by 17.5% in the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock worth $184,309,000 after purchasing an additional 402,900 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other GE HealthCare Technologies news, insider Frank R. Jimenez acquired 1,315 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Stock Up 2.1 %

Shares of NASDAQ GEHC opened at $79.47 on Friday. The business has a fifty day moving average of $88.25 and a two-hundred day moving average of $78.89. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a 52-week low of $62.35 and a 52-week high of $94.50. The stock has a market cap of $36.27 billion, a PE ratio of 23.24, a PEG ratio of 2.86 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.90. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is currently 3.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Argus raised their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Mizuho reduced their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and increased their price target for the company from $66.00 to $88.00 in a report on Monday, February 12th. HSBC began coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Citigroup upped their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

About GE HealthCare Technologies

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.