South Dakota Investment Council Buys 71,857 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

South Dakota Investment Council grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 272.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,262 shares of the company’s stock after buying an additional 71,857 shares during the quarter. South Dakota Investment Council’s holdings in GE HealthCare Technologies were worth $7,598,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Command Advisory Services Inc. grew its stake in shares of GE HealthCare Technologies by 36,900.0% in the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after purchasing an additional 369 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $29,000. Legacy Financial Group LLC purchased a new stake in GE HealthCare Technologies in the third quarter worth about $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in GE HealthCare Technologies in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new stake in GE HealthCare Technologies in the third quarter worth about $26,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.35 during trading hours on Wednesday, reaching $86.59. The company had a trading volume of 668,861 shares, compared to its average volume of 3,323,419. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The firm has a market cap of $39.51 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.93 and a beta of 0.94. The firm’s 50 day moving average price is $88.84 and its 200-day moving average price is $78.21.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Tuesday, February 6th. The company reported $1.18 EPS 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is 3.97%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEHC. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $88.00 in a report on Monday, February 12th. Evercore ISI lifted their target price on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Argus lifted their target price 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. Morgan Stanley lifted their target price on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, Mizuho raised their price target on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.09.

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.