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

Alliancebernstein L.P. cut its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,127,669 shares of the company’s stock after selling 220,133 shares during the quarter. Alliancebernstein L.P.’s holdings in GE HealthCare Technologies were worth $479,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the 4th quarter worth $28,000. Continuum Advisory LLC increased its holdings in GE HealthCare Technologies by 101.8% in the 3rd quarter. Continuum Advisory LLC now owns 333 shares of the company’s stock worth $31,000 after purchasing an additional 168 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies in the fourth quarter valued at about $32,000. Finally, OFI Invest Asset Management acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at about $34,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GEHC shares. The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a report on Tuesday, March 11th. Citigroup raised their price target on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.75.

GE HealthCare Technologies Stock Down 2.0 %

Shares of NASDAQ:GEHC opened at $80.01 on Monday. The business’s 50-day moving average is $86.70 and its 200-day moving average is $85.86. GE HealthCare Technologies Inc. has a 1 year low of $74.51 and a 1 year high of $94.80. The company has a market capitalization of $36.59 billion, a price-to-earnings ratio of 18.48, a P/E/G 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.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.19. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. Equities research analysts predict 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 declared 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 0.17%. The ex-dividend date of this dividend is Friday, April 25th. GE HealthCare Technologies’s payout ratio is 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.