Jennison Associates LLC Purchases 399,961 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Jennison Associates LLC grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 49.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,208,830 shares of the company’s stock after acquiring an additional 399,961 shares during the quarter. Jennison Associates LLC’s holdings in GE HealthCare Technologies were worth $93,467,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GEHC. Vanguard Group Inc. grew its stake 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 purchasing an additional 5,693,244 shares during the period. Invesco Ltd. boosted its stake in GE HealthCare Technologies by 21.4% during the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock worth $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in GE HealthCare Technologies by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock worth $298,043,000 after purchasing an additional 315,808 shares during the period. Northern Trust Corp grew its holdings in GE HealthCare Technologies by 8.9% in the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after purchasing an additional 342,040 shares during the period. Finally, Gates Capital Management Inc. raised its holdings in shares of GE HealthCare Technologies by 17.5% during the third quarter. Gates Capital Management Inc. now owns 2,708,835 shares of the company’s stock valued at $184,309,000 after purchasing an additional 402,900 shares during the period. 82.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEHC. Morgan Stanley boosted their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Evercore ISI upped their target price on GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Citigroup upped their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Argus lifted their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.09.

GE HealthCare Technologies Stock Down 0.2 %

GE HealthCare Technologies stock opened at $84.31 on Tuesday. The stock has a market cap of $38.47 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.94 and a beta of 0.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05. The firm’s 50-day simple moving average is $88.76 and its 200 day simple moving average is $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 issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a net margin of 8.02% and a return on equity of 25.58%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the previous year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts predict that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s payout ratio is currently 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.