Allstate Corp Takes $1.08 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Allstate Corp purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,824 shares of the company’s stock, valued at approximately $1,081,000.

A number of other large investors also recently bought and sold shares of the business. DnB Asset Management AS boosted its stake in shares of GE HealthCare Technologies by 8.7% during the fourth quarter. DnB Asset Management AS now owns 78,582 shares of the company’s stock valued at $6,144,000 after purchasing an additional 6,257 shares during the period. Pictet Asset Management Holding SA lifted its holdings in GE HealthCare Technologies by 27.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 285,538 shares of the company’s stock valued at $22,323,000 after buying an additional 61,667 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in GE HealthCare Technologies by 3.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 150,331 shares of the company’s stock worth $11,753,000 after acquiring an additional 4,335 shares in the last quarter. Norges Bank purchased a new position in shares of GE HealthCare Technologies during the fourth quarter worth approximately $488,531,000. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $336,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Analyst Ratings Changes

GEHC has been the topic of several research analyst reports. Citigroup increased their price objective 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. Wells Fargo & Company lifted their price objective on GE HealthCare Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of GE HealthCare Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $103.00 in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group upgraded shares of GE HealthCare Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company 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, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.75.

GE HealthCare Technologies Stock Performance

Shares of GEHC stock opened at $80.01 on Monday. 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 company has a market cap of $36.59 billion, a PE ratio of 18.48, a PEG ratio of 3.19 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12-month low of $74.51 and a 12-month high of $94.80. The business’s fifty day simple moving average is $86.70 and its 200-day simple moving average is $85.86.

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

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, April 25th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies’s dividend payout ratio is presently 3.23%.

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.