South Dakota Investment Council Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

South Dakota Investment Council grew its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 272.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,262 shares of the company’s stock after buying an additional 71,857 shares during the period. South Dakota Investment Council’s holdings in GE HealthCare Technologies were worth $7,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Command Advisory Services Inc. increased its stake in shares of GE HealthCare Technologies by 36,900.0% in the third quarter. First Command Advisory Services Inc. now owns 370 shares of the company’s stock worth $25,000 after acquiring an additional 369 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $29,000. Legacy Financial Group LLC acquired a new stake in shares of GE HealthCare Technologies in the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of GE HealthCare Technologies in the third quarter worth $26,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded up $0.35 during trading on Wednesday, hitting $86.59. The company had a trading volume of 668,861 shares, compared to its average volume of 3,323,419. The stock has a fifty day simple moving average of $88.84 and a two-hundred day simple moving average of $78.21. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $39.51 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.93 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.

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

GE HealthCare Technologies Announces Dividend

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

Wall Street Analyst Weigh In

GEHC has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of GE HealthCare Technologies from $74.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Mizuho increased their price objective on shares of GE HealthCare Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Evercore ISI raised 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 report on Thursday, April 4th. HSBC started coverage on shares of GE HealthCare Technologies in a research report on Thursday, February 15th. They set a “buy” rating and a $100.00 price target on the stock. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a “sell” rating to a “neutral” rating and raised their price target for the company from $66.00 to $88.00 in a research report on Monday, February 12th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $95.09.

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.