GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 124.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,709,635 shares of the company’s stock after buying an additional 948,017 shares during the quarter. Jennison Associates LLC owned about 0.37% of GE HealthCare Technologies worth $133,659,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC lifted its position in GE HealthCare Technologies by 1,673.3% in the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of GE HealthCare Technologies during the 3rd quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of GE HealthCare Technologies in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies in the third quarter valued at approximately $31,000. Finally, Continuum Advisory LLC grew its holdings in GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEHC. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insider Buying and Selling at GE HealthCare Technologies

In related news, CEO Roland Rott sold 3,577 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.48, for a total value of $309,338.96. Following the transaction, the chief executive officer now owns 24,298 shares in the company, valued at approximately $2,101,291.04. The trade was a 12.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $88.30 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $40.34 billion, a P/E ratio of 24.26, a PEG ratio of 2.92 and a beta of 1.14. The firm has a fifty day moving average of $82.87 and a 200-day moving average of $85.04. GE HealthCare Technologies Inc. has a 52-week low of $72.52 and a 52-week high of $94.55.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Tuesday, January 14th. This is a boost from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

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.