Geode Capital Management LLC Has $882.78 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Geode Capital Management LLC raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,320,576 shares of the company’s stock after buying an additional 342,819 shares during the period. Geode Capital Management LLC owned 2.48% of GE HealthCare Technologies worth $882,777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreFirst Bank & Trust acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $28,000. Continuum Advisory LLC increased its position in GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares during the period. Bank of Jackson Hole Trust bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at $32,000. Finally, OFI Invest Asset Management acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $34,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GEHC shares. Wells Fargo & Company raised their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $100.00 in a research note on Tuesday, March 11th. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Citigroup boosted their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.73.

GE HealthCare Technologies Trading Down 0.3 %

GEHC opened at $79.36 on Thursday. The company has a fifty day moving average price of $86.30 and a two-hundred day moving average price of $85.71. GE HealthCare Technologies Inc. has a 1-year low of $74.51 and a 1-year high of $94.80. The company has a market cap of $36.29 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is currently 3.23%.

About GE HealthCare Technologies

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.