Peapack Gladstone Financial Corp Trims Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Peapack Gladstone Financial Corp lessened its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 4.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,289 shares of the company’s stock after selling 275 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in GE HealthCare Technologies were worth $492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cathy Pareto & Associates Inc. bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $670,000. Principal Financial Group Inc. increased its holdings in GE HealthCare Technologies by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock worth $94,780,000 after purchasing an additional 19,010 shares during the period. Everence Capital Management Inc. raised its position in GE HealthCare Technologies by 118.2% during the 4th quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after purchasing an additional 10,220 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of GE HealthCare Technologies by 9.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,996 shares of the company’s stock worth $13,702,000 after buying an additional 12,908 shares during the period. Finally, Apollon Wealth Management LLC grew its position in shares of GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock worth $1,025,000 after buying an additional 4,160 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Trading Down 3.7 %

NASDAQ:GEHC opened at $58.75 on Wednesday. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $58.04 and a 52 week high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $83.69 and a 200 day moving average of $84.79.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.33 billion. As a group, sell-side analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is presently 3.23%.

Wall Street Analysts Forecast Growth

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

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.