Coronation Fund Managers Ltd. Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Coronation Fund Managers Ltd. purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 334,984 shares of the company’s stock, valued at approximately $26,189,000. GE HealthCare Technologies accounts for about 1.5% of Coronation Fund Managers Ltd.’s holdings, making the stock its 22nd largest position. Coronation Fund Managers Ltd. owned 0.07% of GE HealthCare Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 1,673.3% during the 3rd quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of GE HealthCare Technologies during the third quarter worth $26,000. Ashton Thomas Securities LLC bought a new position in GE HealthCare Technologies during the third quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in GE HealthCare Technologies in the third quarter valued at $31,000. Finally, Continuum Advisory LLC boosted its position in GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after acquiring an additional 168 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $87.64 on Monday. GE HealthCare Technologies Inc. has a 12 month low of $74.51 and a 12 month high of $94.55. The firm has a market capitalization of $40.04 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.93 and a beta of 1.15. The firm has a fifty day simple moving average of $83.34 and a two-hundred day simple moving average of $85.28. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.12.

GE HealthCare Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Tuesday, January 14th. This is a positive change from GE HealthCare Technologies’s previous quarterly dividend of $0.03. GE HealthCare Technologies’s dividend payout ratio is currently 3.85%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEHC. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, GE HealthCare Technologies has an average rating of “Moderate Buy” and an average price target of $96.00.

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.