TIAA Trust National Association Acquires 291 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

TIAA Trust National Association lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,604 shares of the company’s stock after purchasing an additional 291 shares during the quarter. TIAA Trust National Association’s holdings in GE HealthCare Technologies were worth $829,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GEHC. Vanguard Group Inc. lifted its position in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares during the period. State Street Corp raised its stake in GE HealthCare Technologies by 7.8% in the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock valued at $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC lifted its position in GE HealthCare Technologies by 7.2% during the third quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock worth $1,026,898,000 after purchasing an additional 733,819 shares during the period. Van ECK Associates Corp grew its stake in 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 buying an additional 2,506,417 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in GE HealthCare Technologies by 11.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock valued at $271,800,000 after buying an additional 349,539 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GEHC shares. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. The Goldman Sachs Group raised 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 report on Tuesday, March 11th. Citigroup boosted their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $81.66 on Friday. The business has a 50 day moving average of $86.79 and a 200-day moving average of $85.90. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. The company has a market capitalization of $37.34 billion, a P/E ratio of 18.86, a P/E/G ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. On average, equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.17%. GE HealthCare Technologies’s payout ratio is 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.