Allspring Global Investments Holdings LLC Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allspring Global Investments Holdings LLC lifted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 39.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,347 shares of the company’s stock after acquiring an additional 8,596 shares during the period. Allspring Global Investments Holdings LLC’s holdings in GE HealthCare Technologies were worth $2,759,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC raised its holdings in GE HealthCare Technologies by 49.4% in the fourth quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after purchasing an additional 399,961 shares in the last quarter. South Dakota Investment Council lifted its position in GE HealthCare Technologies by 272.1% during the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after acquiring an additional 71,857 shares during the last quarter. US Bancorp DE boosted its stake in GE HealthCare Technologies by 83.4% in the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after acquiring an additional 66,638 shares in the last quarter. Cerity Partners LLC grew its holdings in GE HealthCare Technologies by 27.2% in the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after purchasing an additional 9,809 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of GE HealthCare Technologies by 3.9% during the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after purchasing an additional 1,250 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

NASDAQ:GEHC opened at $76.33 on Wednesday. The firm’s fifty day moving average is $79.49 and its two-hundred day moving average is $81.86. The firm has a market cap of $34.84 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.80 and a beta of 1.20. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.83 and a current ratio of 1.06. GE HealthCare Technologies Inc. has a one year low of $62.35 and a one year high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its earnings results on Tuesday, April 30th. The company reported $0.90 EPS for the quarter, hitting analysts’ consensus estimates of $0.90. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Research analysts expect that GE HealthCare Technologies Inc. will post 4.27 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Friday, July 19th. GE HealthCare Technologies’s dividend payout ratio (DPR) is 3.51%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GEHC shares. Bank of America dropped their target price on GE HealthCare Technologies from $94.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Argus upped their price objective on shares of GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a report on Monday, April 1st. Mizuho lowered their target price on shares of GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Evercore ISI upped their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Citigroup lifted their price objective on shares of GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insider Activity at GE HealthCare Technologies

In related news, CEO Jan Makela sold 20,227 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the sale, the chief executive officer now owns 63,348 shares in the company, valued at $5,167,296.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other GE HealthCare Technologies news, insider Frank R. Jimenez bought 1,315 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $76.52 per share, for a total transaction of $100,623.80. Following the transaction, the insider now directly owns 75,796 shares of the company’s stock, valued at approximately $5,799,909.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jan Makela sold 20,227 shares of GE HealthCare Technologies stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now directly owns 63,348 shares in the company, valued at approximately $5,167,296.36. The disclosure for this sale can be found here. Insiders sold a total of 90,482 shares of company stock worth $7,369,137 in the last three months. Company insiders own 0.27% of the company’s stock.

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.