NEOS Investment Management LLC Acquires 10,219 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. 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 worth $4,107,378,000 after acquiring an additional 2,155,429 shares in the last quarter. State Street Corp boosted its stake in GE HealthCare Technologies by 7.8% in the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC grew its position in GE HealthCare Technologies by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 10,977,757 shares of the company’s stock valued at $1,026,898,000 after purchasing an additional 733,819 shares during the last quarter. Van ECK Associates Corp increased its stake in GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock valued at $378,520,000 after purchasing an additional 2,506,417 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in GE HealthCare Technologies by 11.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,476,586 shares of the company’s stock worth $271,800,000 after buying an additional 349,539 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GEHC. Wells Fargo & Company increased their price target 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. Jefferies Financial Group raised GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. 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 note on Thursday, February 13th. Finally, The Goldman Sachs Group raised GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.75.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ GEHC opened at $81.66 on Friday. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The firm has a market capitalization of $37.34 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13. 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 firm has a 50 day moving average of $86.79 and a 200 day moving average of $85.90.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.33 billion. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.17%. GE HealthCare Technologies’s payout ratio is currently 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.