GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Westpac Banking Corp

Westpac Banking Corp grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,879 shares of the company’s stock after acquiring an additional 578 shares during the period. Westpac Banking Corp’s holdings in GE HealthCare Technologies were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GEHC. Vanguard Group Inc. boosted its holdings in GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the period. State Street Corp grew its position in shares of GE HealthCare Technologies by 7.8% during the third quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after buying an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after buying an additional 342,819 shares during the period. Norges Bank acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at approximately $488,531,000. Finally, Van ECK Associates Corp lifted its stake in GE HealthCare Technologies by 107.3% in the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

GEHC has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. The Goldman Sachs Group upgraded GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Finally, Citigroup raised their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong 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 $97.73.

GE HealthCare Technologies Price Performance

GEHC stock opened at $60.51 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. The company has a market capitalization of $27.67 billion, a P/E ratio of 13.97, a PEG ratio of 3.19 and a beta of 1.13. The business has a 50 day simple moving average of $85.41 and a 200-day simple moving average of $85.44. GE HealthCare Technologies Inc. has a twelve month low of $58.04 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The firm had revenue of $5.32 billion during 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%. As a group, equities analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.23%. The ex-dividend date 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.