GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by D1 Capital Partners L.P.

D1 Capital Partners L.P. lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 22.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,486,584 shares of the company’s stock after purchasing an additional 629,270 shares during the period. GE HealthCare Technologies comprises 4.5% of D1 Capital Partners L.P.’s portfolio, making the stock its 7th largest position. D1 Capital Partners L.P.’s holdings in GE HealthCare Technologies were worth $272,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $28,000. Bank of Jackson Hole Trust bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $32,000. OFI Invest Asset Management acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at $34,000. Finally, Flagship Wealth Advisors LLC acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at $34,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEHC shares. 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. Wells Fargo & Company boosted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $103.00 in a research note on Wednesday, January 8th. Citigroup lifted their target price on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.50.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $64.96 on Thursday. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The firm has a market capitalization of $29.74 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The business has a 50 day simple moving average of $77.57 and a 200 day simple moving average of $82.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.33 billion. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.22%. GE HealthCare Technologies’s payout ratio is 3.23%.

About GE HealthCare Technologies

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.