Stonegate Investment Group LLC Lowers Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Stonegate Investment Group LLC cut its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 653,984 shares of the company’s stock after selling 407 shares during the quarter. GE HealthCare Technologies comprises approximately 1.9% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 17th biggest position. Stonegate Investment Group LLC owned 0.14% of GE HealthCare Technologies worth $59,454,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GEHC. Capital Research Global Investors boosted its holdings in GE HealthCare Technologies by 2.8% during the 4th quarter. Capital Research Global Investors now owns 51,344,719 shares of the company’s stock valued at $3,969,975,000 after acquiring an additional 1,401,566 shares during the period. Vanguard Group Inc. boosted its holdings in GE HealthCare Technologies by 14.7% during the 3rd 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 during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in GE HealthCare Technologies by 9.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 5,511,973 shares of the company’s stock valued at $426,186,000 after acquiring an additional 471,910 shares during the period. Invesco Ltd. boosted its holdings in GE HealthCare Technologies by 21.4% during the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after acquiring an additional 889,297 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 315,808 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented 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. Citigroup increased their price target 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 increased their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Mizuho increased their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, HSBC assumed coverage on 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. Four investment 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.09.

GE HealthCare Technologies Stock Down 14.3 %

Shares of NASDAQ GEHC traded down $12.70 during midday trading on Tuesday, hitting $76.24. 14,428,468 shares of the company’s stock were exchanged, compared to its average volume of 3,444,411. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The company has a market cap of $34.79 billion, a PE ratio of 25.25, a P/E/G ratio of 3.00 and a beta of 0.95. The firm’s fifty day simple moving average is $88.98 and its 200-day simple moving average is $78.75.

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

GE HealthCare Technologies Announces Dividend

The company 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 dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 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.