Rakuten Securities Inc. Invests $78,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Rakuten Securities Inc. bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,006 shares of the company’s stock, valued at approximately $78,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of GE HealthCare Technologies by 3.9% in the fourth quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock valued at $2,600,000 after buying an additional 1,250 shares in the last quarter. Douglas Lane & Associates LLC grew its position in GE HealthCare Technologies by 22.1% in the 4th quarter. Douglas Lane & Associates LLC now owns 436,253 shares of the company’s stock valued at $33,731,000 after acquiring an additional 79,073 shares in the last quarter. Prio Wealth Limited Partnership increased its stake in GE HealthCare Technologies by 25.1% during the fourth quarter. Prio Wealth Limited Partnership now owns 215,317 shares of the company’s stock worth $16,648,000 after purchasing an additional 43,189 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of GE HealthCare Technologies by 34.9% during the third quarter. The Manufacturers Life Insurance Company now owns 341,769 shares of the company’s stock worth $23,254,000 after purchasing an additional 88,384 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of GE HealthCare Technologies by 90.4% in the third quarter. Federated Hermes Inc. now owns 77,689 shares of the company’s stock valued at $5,286,000 after purchasing an additional 36,886 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC opened at $85.19 on Thursday. The company has a market capitalization of $38.87 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 2.99 and a beta of 0.94. GE HealthCare Technologies Inc. has a fifty-two week low of $62.35 and a fifty-two week high of $94.50. The firm has a 50-day simple moving average of $88.61 and a 200-day simple moving average of $77.65. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.83 and a current ratio of 1.05.

GE HealthCare Technologies (NASDAQ:GEHC) last released its 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 for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.3 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on GEHC shares. HSBC began coverage on GE HealthCare Technologies in a report on Thursday, February 15th. They set a “buy” rating and a $100.00 price target on the stock. Citigroup raised their target price on shares of 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 increased their price objective on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $66.00 to $88.00 in a research note on Monday, February 12th. Finally, Mizuho lifted their price target on GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.08.

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.