Tandem Capital Management Corp ADV Sells 314 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Tandem Capital Management Corp ADV lessened its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,038 shares of the company’s stock after selling 314 shares during the period. GE HealthCare Technologies comprises 1.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 24th biggest holding. Tandem Capital Management Corp ADV’s holdings in GE HealthCare Technologies were worth $2,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEHC. Bailard Inc. acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $204,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of GE HealthCare Technologies by 9.0% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,078 shares of the company’s stock worth $779,000 after acquiring an additional 834 shares during the period. Wynn Capital LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter worth $232,000. South Dakota Investment Council lifted its holdings in GE HealthCare Technologies by 272.1% during the 4th quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after purchasing an additional 71,857 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in GE HealthCare Technologies during the 4th quarter worth about $297,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GEHC has been the topic of several recent research reports. Citigroup increased their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI lifted their price objective 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. HSBC assumed coverage on GE HealthCare Technologies in a research note on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective for the company. Argus boosted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.09.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $0.77 during mid-day trading on Thursday, hitting $85.95. 1,362,869 shares of the company traded hands, compared to its average volume of 3,316,483. The stock’s fifty day moving average price is $88.91 and its 200-day moving average price is $78.32. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50. The firm has a market cap of $39.22 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94. 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:GEHC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. Research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio is presently 3.97%.

GE HealthCare Technologies 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.