GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 54.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,560 shares of the company’s stock after buying an additional 5,857 shares during the period. Cullen Frost Bankers Inc.’s holdings in GE HealthCare Technologies were worth $1,280,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GEHC. Raymond James Financial Services Advisors Inc. increased its holdings in shares of GE HealthCare Technologies by 12.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 83,176 shares of the company’s stock valued at $5,659,000 after acquiring an additional 9,214 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of GE HealthCare Technologies by 61.0% during the third quarter. Mackenzie Financial Corp now owns 79,989 shares of the company’s stock valued at $5,358,000 after buying an additional 30,301 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of GE HealthCare Technologies by 28.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 515,332 shares of the company’s stock worth $35,063,000 after buying an additional 114,214 shares during the period. TD Asset Management Inc grew its holdings in GE HealthCare Technologies by 2.7% in the 3rd quarter. TD Asset Management Inc now owns 236,830 shares of the company’s stock worth $16,114,000 after buying an additional 6,229 shares in the last quarter. Finally, TIAA Trust National Association acquired a new stake in GE HealthCare Technologies in the 3rd quarter valued at approximately $759,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup raised their price target on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Argus lifted their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Bank of America dropped their price objective 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. Mizuho lowered their target price on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, HSBC assumed 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 objective for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, GE HealthCare Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

GE HealthCare Technologies Stock Up 0.3 %

GEHC stock opened at $83.00 on Friday. The firm has a market cap of $37.89 billion, a PE ratio of 24.19, a PEG ratio of 2.86 and a beta of 1.26. GE HealthCare Technologies Inc. has a 1 year low of $62.35 and a 1 year high of $94.50. The company has a fifty day simple moving average of $87.40 and a 200 day simple moving average of $79.33. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a $0.03 dividend. The ex-dividend date 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 3.51%.

Insider Transactions at GE HealthCare Technologies

In related news, insider Frank R. Jimenez purchased 1,315 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average cost 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 filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

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.