Pinebridge Investments L.P. Decreases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Pinebridge Investments L.P. reduced its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 17.8% in the fourth quarter, Holdings Channel reports. The fund owned 240,895 shares of the company’s stock after selling 52,270 shares during the quarter. Pinebridge Investments L.P.’s holdings in GE HealthCare Technologies were worth $18,833,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. CoreFirst Bank & Trust purchased a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $28,000. Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies during the 4th quarter valued at about $32,000. OFI Invest Asset Management bought a new stake in GE HealthCare Technologies in the fourth quarter worth about $34,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $34,000. Institutional investors own 82.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GEHC. Piper Sandler dropped their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their price target on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Citigroup lifted their price objective on shares of GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Tuesday, March 11th. Finally, BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a “buy” rating in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.50.

GE HealthCare Technologies Stock Performance

GEHC stock opened at $64.96 on Thursday. The stock’s 50 day simple moving average is $77.57 and its 200 day simple moving average is $82.50. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The firm has a market cap of $29.74 billion, a P/E ratio of 15.00, a P/E/G ratio of 3.19 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

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

GE HealthCare Technologies Dividend Announcement

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