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

Jennison Associates LLC increased its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 49.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,208,830 shares of the company’s stock after purchasing an additional 399,961 shares during the quarter. Jennison Associates LLC owned about 0.27% of GE HealthCare Technologies worth $93,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in GE HealthCare Technologies by 14.7% during the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock worth $3,029,917,000 after acquiring an additional 5,693,244 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of GE HealthCare Technologies by 84.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock worth $181,578,000 after purchasing an additional 1,221,436 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in GE HealthCare Technologies by 1,323.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock valued at $69,682,000 after purchasing an additional 952,182 shares during the last quarter. Invesco Ltd. grew 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 worth $343,484,000 after buying an additional 889,297 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of GE HealthCare Technologies in the third quarter valued at $55,152,000. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GEHC shares. Mizuho lifted their target price on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Morgan Stanley lifted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Citigroup upped their price target on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. HSBC started coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Argus raised their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.09.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $84.31 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. The stock has a market capitalization of $38.47 billion, a P/E ratio of 27.92, a P/E/G ratio of 2.94 and a beta of 0.95. The business has a 50-day moving average of $88.76 and a two-hundred day moving average of $78.08. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter last year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.97%.

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.