NEOS Investment Management LLC Increases Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

NEOS Investment Management LLC grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,048 shares of the company’s stock after buying an additional 10,219 shares during the period. NEOS Investment Management LLC’s holdings in GE HealthCare Technologies were worth $4,147,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GEHC. Cherry Creek Investment Advisors Inc. increased its stake in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock valued at $2,920,000 after acquiring an additional 114 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in shares of GE HealthCare Technologies by 6.0% in the 4th quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after purchasing an additional 114 shares in the last quarter. Haverford Trust Co increased its position in shares of GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after purchasing an additional 115 shares during the last quarter. Tandem Capital Management Corp ADV raised its holdings in shares of GE HealthCare Technologies by 0.4% during the 4th quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after buying an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC lifted its position in GE HealthCare Technologies by 3.0% in the 4th quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company’s stock worth $322,000 after buying an additional 119 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Stock Up 0.8 %

Shares of GE HealthCare Technologies stock opened at $81.66 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The company has a market cap of $37.34 billion, a P/E ratio of 18.86, a PEG ratio of 3.19 and a beta of 1.13. The company’s fifty day simple moving average is $86.79 and its two-hundred day simple moving average is $85.90.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. Research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.17%. GE HealthCare Technologies’s payout ratio is 3.23%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GEHC. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Citigroup lifted their target price on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $98.75.

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.