Chevy Chase Trust Holdings LLC Cuts Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Chevy Chase Trust Holdings LLC decreased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 240,771 shares of the company’s stock after selling 5,098 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of GE HealthCare Technologies worth $18,823,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GEHC. D1 Capital Partners L.P. purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth about $268,159,000. Van ECK Associates Corp grew its stake in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the last quarter. State Street Corp grew its stake in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after acquiring an additional 1,347,114 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of GE HealthCare Technologies during the third quarter worth about $93,713,000. Finally, Jennison Associates LLC grew its stake in shares of GE HealthCare Technologies by 124.5% during the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock worth $133,659,000 after acquiring an additional 948,017 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GEHC has been the topic of a number of research analyst reports. Citigroup boosted their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.67.

GE HealthCare Technologies Trading Down 1.4 %

Shares of NASDAQ:GEHC opened at $92.21 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The company has a market capitalization of $42.13 billion, a PE ratio of 25.33, a PEG ratio of 2.93 and a beta of 1.15. The business has a 50 day moving average of $84.03 and a two-hundred day moving average of $85.53. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. GE HealthCare Technologies had a return on equity of 25.19% and a net margin of 8.56%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 14th were issued a $0.035 dividend. The ex-dividend date was Tuesday, January 14th. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.15%. GE HealthCare Technologies’s payout ratio is presently 3.85%.

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.