Bridgewater Associates LP Decreases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bridgewater Associates LP lowered its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 43.4% in the 4th quarter, HoldingsChannel reports. The firm owned 32,019 shares of the company’s stock after selling 24,558 shares during the quarter. Bridgewater Associates LP’s holdings in GE HealthCare Technologies were worth $2,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Creek Investment Advisors Inc. grew its position in GE HealthCare Technologies by 0.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company’s stock worth $2,920,000 after buying an additional 114 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company’s stock worth $158,000 after purchasing an additional 114 shares during the last quarter. Haverford Trust Co raised its stake in GE HealthCare Technologies by 2.4% in the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company’s stock valued at $383,000 after purchasing an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV lifted its position in GE HealthCare Technologies by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company’s stock valued at $2,205,000 after purchasing an additional 118 shares during the last quarter. Finally, Arcus Capital Partners LLC grew its stake 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 in the last quarter. 82.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GEHC has been the subject of a number of research analyst reports. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company upped their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Citigroup boosted 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. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $103.00 in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $97.27.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $62.37 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The stock has a market cap of $28.56 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The firm’s fifty day simple moving average is $79.26 and its 200 day simple moving average is $83.09.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.23%.

GE HealthCare Technologies Company 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.