Savvy Advisors Inc. Acquires Shares of 3,180 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Savvy Advisors Inc. bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) during the fourth quarter, HoldingsChannel reports. The fund bought 3,180 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors have also modified their holdings of GEHC. Vanguard Group Inc. grew its position in GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after buying an additional 342,819 shares during the last quarter. Invesco Ltd. grew its holdings in shares of GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company’s stock worth $630,751,000 after buying an additional 1,252,613 shares during the last quarter. Norges Bank purchased a new stake in GE HealthCare Technologies during the 4th quarter valued at approximately $488,531,000. Finally, Van ECK Associates Corp lifted its position in GE HealthCare Technologies by 107.3% during the 4th quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after acquiring an additional 2,506,417 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

GEHC stock opened at $63.10 on Wednesday. The company has a market cap of $28.89 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 3.19 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $80.78 and a 200-day moving average of $83.66. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC) last posted its earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.19. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.33 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio (DPR) is presently 3.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GEHC shares. Citigroup upped their price target on GE HealthCare Technologies from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group raised shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $100.00 in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.73.

GE HealthCare Technologies Company 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.