GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 53.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,428,586 shares of the company’s stock after purchasing an additional 1,194,983 shares during the period. JPMorgan Chase & Co. owned 0.75% of GE HealthCare Technologies worth $268,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEHC. FMR LLC boosted its stake in shares of GE HealthCare Technologies by 4.1% during the third quarter. FMR LLC now owns 2,165,826 shares of the company’s stock worth $203,263,000 after buying an additional 84,411 shares during the period. Townsquare Capital LLC grew its stake in shares of GE HealthCare Technologies by 21.5% in the 3rd quarter. Townsquare Capital LLC now owns 7,722 shares of the company’s stock valued at $725,000 after purchasing an additional 1,366 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of GE HealthCare Technologies by 0.6% in the third quarter. Glenmede Trust Co. NA now owns 30,173 shares of the company’s stock valued at $2,832,000 after purchasing an additional 180 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth approximately $2,799,000. Finally, CreativeOne Wealth LLC purchased a new position in GE HealthCare Technologies in the 3rd quarter valued at $259,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

GE HealthCare Technologies Trading Down 2.0 %

Shares of GEHC stock opened at $80.01 on Monday. The stock has a market cap of $36.59 billion, a P/E ratio of 18.48, a P/E/G ratio of 3.19 and a beta of 1.13. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a fifty-two week low of $74.51 and a fifty-two week high of $94.80. The business has a fifty day simple moving average of $86.70 and a 200-day simple moving average of $85.86.

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

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s 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.