Hsbc Holdings PLC boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 21.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 470,993 shares of the company’s stock after buying an additional 81,916 shares during the quarter. Hsbc Holdings PLC owned approximately 0.10% of GE HealthCare Technologies worth $36,408,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janney Capital Management LLC grew its holdings in GE HealthCare Technologies by 4.7% in the fourth quarter. Janney Capital Management LLC now owns 3,289 shares of the company’s stock valued at $254,000 after purchasing an additional 149 shares during the period. American National Bank lifted its holdings in GE HealthCare Technologies by 25.2% during the 4th quarter. American National Bank now owns 750 shares of the company’s stock worth $58,000 after buying an additional 151 shares during the last quarter. Chilton Capital Management LLC lifted its position in GE HealthCare Technologies by 15.4% in the fourth quarter. Chilton Capital Management LLC now owns 1,227 shares of the company’s stock valued at $95,000 after acquiring an additional 164 shares during the last quarter. Procyon Advisors LLC grew its position in GE HealthCare Technologies by 5.2% during the 4th quarter. Procyon Advisors LLC now owns 3,555 shares of the company’s stock worth $275,000 after purchasing an additional 175 shares during the last quarter. Finally, 9258 Wealth Management LLC raised its holdings in GE HealthCare Technologies by 5.7% during the fourth quarter. 9258 Wealth Management LLC now owns 3,273 shares of the company’s stock worth $253,000 after purchasing an additional 176 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
GE HealthCare Technologies Stock Performance
GEHC opened at $78.57 on Friday. The business has a 50 day moving average of $84.16 and a 200-day moving average of $80.73. 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 cap of $35.86 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 2.82 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.
GE HealthCare Technologies (NASDAQ:GEHC – Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.27 earnings per share for the current year.
GE HealthCare Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is 3.51%.
Analysts Set New Price Targets
GEHC has been the topic of several recent analyst reports. Mizuho reduced their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. HSBC initiated coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Argus lifted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup raised their target price on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI increased their price target 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $94.09.
Read Our Latest Stock Analysis on GEHC
Insiders Place Their Bets
In other news, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $76.52 per share, with a total value of $100,623.80. Following the transaction, the insider now owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other GE HealthCare Technologies news, CTO Taha Kass-Hout sold 3,300 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $78.70, for a total transaction of $259,710.00. Following the sale, the chief technology officer now owns 67,300 shares of the company’s stock, valued at $5,296,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frank R. Jimenez acquired 1,315 shares of the stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $76.52 per share, with a total value of $100,623.80. Following the completion of the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The disclosure for this purchase can be found here. In the last three months, insiders have sold 90,482 shares of company stock valued at $7,369,137. 0.27% of the stock is currently owned by company insiders.
GE HealthCare Technologies Company Profile
(Free Report)
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.
Further Reading
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