Sector Gamma AS Buys 17,942 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sector Gamma AS grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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 comprises approximately 4.6% of Sector Gamma AS’s investment portfolio, making the stock its 7th largest holding. Sector Gamma AS’s holdings in GE HealthCare Technologies were worth $19,139,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GEHC. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 5,693,244 shares in the last quarter. Ameriprise Financial Inc. boosted its position in GE HealthCare Technologies by 84.4% in the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after buying an additional 1,221,436 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in GE HealthCare Technologies by 1,323.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock valued at $69,682,000 after buying an additional 952,182 shares during the last quarter. Invesco Ltd. boosted its position in GE HealthCare Technologies by 21.4% in the third 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. Finally, Nordea Investment Management AB purchased a new stake in GE HealthCare Technologies in the third quarter valued at approximately $55,152,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Up 0.3 %

GE HealthCare Technologies stock traded up $0.29 during midday trading on Friday, reaching $86.24. 1,790,728 shares of the stock traded hands, compared to its average volume of 2,231,738. The company has a 50-day simple moving average of $88.92 and a two-hundred day simple moving average of $78.45. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50. The firm has a market cap of $39.35 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 2.99 and a beta of 0.94. 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 (NASDAQ:GEHC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Research analysts expect that GE HealthCare Technologies Inc. will post 4.3 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 given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 18th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup upped their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Mizuho upped their target price on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Argus upped their target price on 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, Morgan Stanley upped their target price on 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies has a consensus 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.