334,984 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Purchased by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 334,984 shares of the company’s stock, valued at approximately $26,189,000. GE HealthCare Technologies comprises 1.5% of Coronation Fund Managers Ltd.’s holdings, making the stock its 22nd largest position.

Several other hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC lifted its holdings in GE HealthCare Technologies by 1,673.3% during the third quarter. LGT Financial Advisors LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 251 shares during the period. Capital Performance Advisors LLP bought a new position in GE HealthCare Technologies in the 3rd quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in shares of GE HealthCare Technologies during the 3rd quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies in the 3rd quarter worth about $31,000. Finally, Continuum Advisory LLC grew its position in GE HealthCare Technologies by 101.8% during the third quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock valued at $31,000 after buying an additional 168 shares during the period. Institutional investors own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GEHC. Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of GE HealthCare Technologies from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.00.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC opened at $87.64 on Monday. The business’s fifty day moving average is $83.34 and its 200 day moving average is $85.28. The firm has a market cap of $40.04 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.93 and a beta of 1.15. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.98 and a current ratio of 1.23. GE HealthCare Technologies Inc. has a 52-week low of $74.51 and a 52-week high of $94.55.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.16%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, January 14th. GE HealthCare Technologies’s dividend payout ratio is presently 3.85%.

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.