Alliancebernstein L.P. Sells 220,133 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Alliancebernstein L.P. reduced its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,127,669 shares of the company’s stock after selling 220,133 shares during the quarter. Alliancebernstein L.P. owned approximately 1.34% of GE HealthCare Technologies worth $479,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cathy Pareto & Associates Inc. acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at $670,000. Principal Financial Group Inc. grew its holdings in shares of GE HealthCare Technologies by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,009,910 shares of the company’s stock valued at $94,780,000 after acquiring an additional 19,010 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of GE HealthCare Technologies by 118.2% in the fourth quarter. Everence Capital Management Inc. now owns 18,870 shares of the company’s stock valued at $1,475,000 after acquiring an additional 10,220 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in GE HealthCare Technologies by 9.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 145,996 shares of the company’s stock worth $13,702,000 after acquiring an additional 12,908 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in GE HealthCare Technologies by 46.5% during the fourth quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company’s stock valued at $1,025,000 after purchasing an additional 4,160 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GEHC has been the topic of several recent analyst reports. Citigroup boosted their price target on 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 shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Wells Fargo & Company lifted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $103.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock opened at $80.01 on Monday. The firm has a market cap of $36.59 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The stock’s fifty day moving average price is $86.70 and its two-hundred day moving average price is $85.86. GE HealthCare Technologies Inc. has a one year low of $74.51 and a one year high of $94.80.

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

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.23%.

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.