Cullen Frost Bankers Inc. Buys 5,857 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Cullen Frost Bankers Inc. boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 54.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,560 shares of the company’s stock after acquiring an additional 5,857 shares during the period. Cullen Frost Bankers Inc.’s holdings in GE HealthCare Technologies were worth $1,280,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of GE HealthCare Technologies by 49.4% during the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock valued at $93,467,000 after buying an additional 399,961 shares during the last quarter. South Dakota Investment Council lifted its holdings in shares of GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock worth $7,598,000 after purchasing an additional 71,857 shares during the period. Cerity Partners LLC boosted its position in GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock valued at $3,551,000 after buying an additional 9,809 shares during the last quarter. Fifth Third Bancorp increased its holdings in GE HealthCare Technologies by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after buying an additional 1,250 shares during the period. Finally, Douglas Lane & Associates LLC raised its position in GE HealthCare Technologies by 22.1% during the 4th quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company’s stock worth $33,731,000 after buying an additional 79,073 shares during the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GEHC shares. UBS Group raised shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $88.00 in a report on Monday, February 12th. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Evercore ISI boosted their price target on GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Citigroup raised their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley boosted 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 research note on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $83.00 on Friday. The company’s 50-day moving average is $87.40 and its two-hundred day moving average is $79.33. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.83. The firm has a market capitalization of $37.89 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.86 and a beta of 1.26.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting the consensus estimate of $0.90. GE HealthCare Technologies had a net margin of 8.05% and a return on equity of 25.32%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm posted $0.85 earnings per share. GE HealthCare Technologies’s revenue was down 1.2% compared to the same quarter last year. Analysts forecast that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Insider Buying and Selling

In other news, insider Frank R. Jimenez acquired 1,315 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost of $76.52 per share, with a total value of $100,623.80. Following the transaction, the insider now owns 75,796 shares in the company, valued at approximately $5,799,909.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by insiders.

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.