GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 27.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 285,538 shares of the company’s stock after acquiring an additional 61,667 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of GE HealthCare Technologies worth $22,323,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $488,531,000. Van ECK Associates Corp boosted its stake in GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after purchasing an additional 2,506,417 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after buying an additional 2,155,429 shares in the last quarter. State Street Corp raised its position in shares of GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after buying an additional 1,347,114 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of GE HealthCare Technologies by 53.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,428,586 shares of the company’s stock worth $268,047,000 after buying an additional 1,194,983 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GEHC shares. Citigroup upped their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

GE HealthCare Technologies Trading Up 0.9 %

Shares of GEHC stock opened at $80.71 on Tuesday. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. The firm has a market cap of $36.91 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a 50-day moving average of $86.62 and a two-hundred day moving average of $85.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be issued a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s dividend payout ratio is presently 3.23%.

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.