Swiss National Bank Reduces Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Swiss National Bank decreased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,280,087 shares of the company’s stock after selling 36,300 shares during the quarter. Swiss National Bank’s holdings in GE HealthCare Technologies were worth $98,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in shares of GE HealthCare Technologies by 44.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,116 shares of the company’s stock worth $473,000 after purchasing an additional 1,876 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in GE HealthCare Technologies by 18.5% during the fourth quarter. First Trust Direct Indexing L.P. now owns 8,674 shares of the company’s stock worth $671,000 after acquiring an additional 1,353 shares during the period. Victory Capital Management Inc. raised its position in shares of GE HealthCare Technologies by 0.3% during the 4th quarter. Victory Capital Management Inc. now owns 688,364 shares of the company’s stock worth $53,224,000 after purchasing an additional 1,946 shares during the last quarter. WealthTrust Axiom LLC lifted its position in shares of GE HealthCare Technologies by 5.1% in the fourth quarter. WealthTrust Axiom LLC now owns 4,027 shares of the company’s stock valued at $311,000 after acquiring an additional 194 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in GE HealthCare Technologies in the 4th quarter valued at $4,475,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GEHC shares. Citigroup raised their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. UBS Group upgraded GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $66.00 to $88.00 in a report on Monday, February 12th. 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. Evercore ISI raised 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 report on Thursday, April 4th. Finally, Argus boosted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Transactions at GE HealthCare Technologies

In other news, insider Frank R. Jimenez bought 1,315 shares of GE HealthCare Technologies stock in a transaction dated Wednesday, May 1st. The stock was bought at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the purchase, the insider now owns 75,796 shares of the company’s stock, valued at $5,799,909.92. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

GE HealthCare Technologies Trading Up 2.1 %

GEHC opened at $79.47 on Friday. The business has a fifty day moving average price of $88.25 and a 200 day moving average price of $78.89. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 12 month low of $62.35 and a 12 month high of $94.50. The stock has a market capitalization of $36.27 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.86 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates 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 company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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. The ex-dividend date is Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.

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.