GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Spinnaker Trust

Spinnaker Trust grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,918 shares of the company’s stock after acquiring an additional 3,489 shares during the quarter. Spinnaker Trust’s holdings in GE HealthCare Technologies were worth $4,865,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. First Command Advisory Services Inc. grew its position in GE HealthCare Technologies by 36,900.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after purchasing an additional 369 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth about $29,000. Legacy Financial Group LLC acquired a new stake in shares of GE HealthCare Technologies during the 3rd quarter valued at about $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new position in GE HealthCare Technologies in the 3rd quarter worth about $26,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

GEHC stock traded up $0.29 during mid-day trading on Friday, reaching $86.24. The company’s stock had a trading volume of 1,790,695 shares, compared to its average volume of 3,297,646. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $88.92 and its two-hundred day moving average is $78.45. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The stock has a market cap of $39.35 billion, a PE ratio of 28.56, a P/E/G ratio of 3.02 and a beta of 0.94.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. GE HealthCare Technologies had a return on equity of 25.58% and a net margin of 8.02%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the business earned $1.31 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.12 annualized dividend and a dividend yield of 0.14%. GE HealthCare Technologies’s dividend payout ratio is presently 3.97%.

Wall Street Analyst Weigh In

GEHC has been the topic of several research analyst reports. Citigroup raised their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI boosted their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Morgan Stanley increased their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Mizuho lifted their target price on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, HSBC began coverage on shares of GE HealthCare Technologies in a research note on Thursday, February 15th. They issued a “buy” rating and a $100.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.09.

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.