State of New Jersey Common Pension Fund D Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State of New Jersey Common Pension Fund D raised its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,590 shares of the company’s stock after purchasing an additional 4,854 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in GE HealthCare Technologies were worth $12,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GEHC. D1 Capital Partners L.P. purchased a new stake in GE HealthCare Technologies during the third quarter worth approximately $268,159,000. Van ECK Associates Corp lifted its holdings in shares of 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 valued at $378,520,000 after acquiring an additional 2,506,417 shares in the last quarter. State Street Corp boosted its position in GE HealthCare Technologies by 7.8% during the 3rd quarter. State Street Corp now owns 18,615,890 shares of the company’s stock worth $1,747,101,000 after purchasing an additional 1,347,114 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in GE HealthCare Technologies in the 3rd quarter valued at $93,713,000. Finally, Jennison Associates LLC raised its position in GE HealthCare Technologies by 124.5% in the fourth quarter. Jennison Associates LLC now owns 1,709,635 shares of the company’s stock valued at $133,659,000 after purchasing an additional 948,017 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup upped 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. Wells Fargo & Company increased their price objective on shares of GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Jefferies Financial Group raised shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $97.67.

GE HealthCare Technologies Trading Down 1.4 %

GEHC opened at $92.21 on Tuesday. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market capitalization of $42.13 billion, a PE ratio of 25.33, a P/E/G ratio of 2.93 and a beta of 1.15. The firm’s fifty day moving average price is $84.24 and its 200 day moving average price is $85.60.

GE HealthCare Technologies (NASDAQ:GEHC) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.33 billion. GE HealthCare Technologies had a net margin of 8.56% and a return on equity of 25.19%. As a group, research analysts expect that GE HealthCare Technologies Inc. will post 4.3 EPS for the current fiscal year.

GE HealthCare Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 14th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.15%. This is an increase from GE HealthCare Technologies’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, January 14th. GE HealthCare Technologies’s payout ratio is 3.85%.

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.