Fractal Investments LLC Cuts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Fractal Investments LLC trimmed its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,601 shares of the company’s stock after selling 1,399 shares during the period. GE HealthCare Technologies accounts for 0.2% of Fractal Investments LLC’s portfolio, making the stock its 22nd largest holding. Fractal Investments LLC’s holdings in GE HealthCare Technologies were worth $974,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GEHC. Vanguard Group Inc. lifted 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 purchasing an additional 5,693,244 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after acquiring an additional 1,221,436 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in GE HealthCare Technologies by 1,323.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock worth $69,682,000 after acquiring an additional 952,182 shares during the last quarter. Invesco Ltd. raised its position in GE HealthCare Technologies by 21.4% during the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after purchasing an additional 889,297 shares during the period. Finally, Nordea Investment Management AB bought a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $55,152,000. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Performance

GEHC traded up $0.48 during midday trading on Wednesday, hitting $86.72. 2,017,387 shares of the company were exchanged, compared to its average volume of 3,341,176. The firm has a market capitalization of $39.57 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.93 and a beta of 0.94. The company’s 50 day simple moving average is $88.91 and its 200 day simple moving average is $78.27. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter last year, the company earned $1.31 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued 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 payout ratio is 3.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GEHC shares. Evercore ISI increased their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Morgan Stanley lifted 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 note on Monday, February 12th. HSBC began coverage on GE HealthCare Technologies in a report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective on the stock. Argus increased their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.09.

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.