First Citizens Bank & Trust Co. Takes Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

First Citizens Bank & Trust Co. acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHCFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 42,984 shares of the company’s stock, valued at approximately $3,324,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew 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 acquiring an additional 5,693,244 shares during the period. State Street Corp purchased a new stake in shares of GE HealthCare Technologies in the 2nd quarter worth approximately $1,532,290,000. Invesco Ltd. boosted its stake in GE HealthCare Technologies by 21.4% in the third quarter. Invesco Ltd. now owns 5,048,262 shares of the company’s stock valued at $343,484,000 after acquiring an additional 889,297 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in GE HealthCare Technologies by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 4,380,408 shares of the company’s stock valued at $298,043,000 after acquiring an additional 315,808 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of GE HealthCare Technologies by 8.9% during the third quarter. Northern Trust Corp now owns 4,205,506 shares of the company’s stock worth $286,143,000 after buying an additional 342,040 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Argus boosted their target price on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley increased their price target on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. UBS Group upgraded 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 research note on Monday, February 12th. HSBC started coverage on shares of GE HealthCare Technologies in a report on Thursday, February 15th. They set a “buy” rating and a $100.00 target price for the company. Finally, Mizuho lifted their price target on shares of GE HealthCare Technologies from $94.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, GE HealthCare Technologies has a consensus rating of “Moderate Buy” and an average price target of $91.45.

Get Our Latest Research Report on GE HealthCare Technologies

GE HealthCare Technologies Trading Down 1.1 %

GEHC traded down $0.99 during midday trading on Tuesday, reaching $88.54. 786,718 shares of the company’s stock traded hands, compared to its average volume of 3,546,176. GE HealthCare Technologies Inc. has a 52 week low of $62.35 and a 52 week high of $94.50. The stock has a market capitalization of $40.32 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 3.16 and a beta of 0.95. The firm has a fifty day moving average of $85.68 and a two-hundred day moving average of $75.98. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHCGet Free Report) last announced 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. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. On average, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

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 issued a dividend of $0.03 per share. 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 is presently 3.97%.

About GE HealthCare Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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