Sector Gamma AS Boosts Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sector Gamma AS boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,531 shares of the company’s stock after acquiring an additional 17,942 shares during the quarter. GE HealthCare Technologies accounts for 4.6% of Sector Gamma AS’s portfolio, making the stock its 7th largest position. Sector Gamma AS owned approximately 0.05% of GE HealthCare Technologies worth $19,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GEHC. Vanguard Group Inc. increased its stake in GE HealthCare Technologies by 14.7% in the 3rd 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 last quarter. Invesco Ltd. increased its stake in GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after buying an additional 889,297 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $298,043,000 after buying an additional 315,808 shares during the last quarter. Northern Trust Corp increased its stake in 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 buying an additional 342,040 shares during the last quarter. Finally, Gates Capital Management Inc. increased its stake in GE HealthCare Technologies by 17.5% in the 3rd quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock valued at $184,309,000 after buying an additional 402,900 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded up $0.29 during midday trading on Friday, hitting $86.24. 1,790,728 shares of the company were exchanged, compared to its average volume of 2,231,738. The firm has a market capitalization of $39.35 billion, a P/E ratio of 28.56, a PEG ratio of 2.99 and a beta of 0.94. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05. The firm’s 50 day moving average price is $88.92 and its two-hundred day moving average price is $78.45. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The firm had revenue of $5.20 billion during 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 for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given 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 (DPR) is currently 3.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $88.00 in a research note on Monday, February 12th. Morgan Stanley boosted their price objective on shares of 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. Evercore ISI boosted their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Argus boosted their price objective on shares of 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, Mizuho boosted their price objective on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.09.

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.