GAMMA Investing LLC Invests $297,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

GAMMA Investing LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,042 shares of the company’s stock, valued at approximately $297,000.

Several other hedge funds have also bought and sold shares of GEHC. Vanguard Group Inc. raised its position in shares of GE HealthCare Technologies by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after buying an additional 5,693,244 shares in the last quarter. Ameriprise Financial Inc. raised its position in GE HealthCare Technologies by 84.4% during the third quarter. Ameriprise Financial Inc. now owns 2,668,695 shares of the company’s stock valued at $181,578,000 after purchasing an additional 1,221,436 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in GE HealthCare Technologies by 1,323.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,024,128 shares of the company’s stock worth $69,682,000 after purchasing an additional 952,182 shares during the last quarter. Invesco Ltd. boosted its stake in shares of GE HealthCare Technologies by 21.4% in the 3rd quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after purchasing an additional 889,297 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of GE HealthCare Technologies during the 3rd quarter valued at $55,152,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Up 0.6 %

GEHC stock opened at $86.72 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The business has a 50 day moving average of $88.91 and a 200 day moving average of $78.27. GE HealthCare Technologies Inc. has a twelve month low of $62.35 and a twelve month high of $94.50. The firm has a market cap of $39.57 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. GE HealthCare Technologies’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 EPS. On average, research analysts forecast that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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

Analysts Set New Price Targets

GEHC has been the subject of several analyst reports. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Morgan Stanley raised their price target on GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Mizuho raised their target price on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Citigroup increased their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, HSBC assumed coverage on GE HealthCare Technologies in a research report on Thursday, February 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.09.

GE HealthCare Technologies 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.