Patten & Patten Inc. TN Reduces Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Patten & Patten Inc. TN decreased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC – Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,095 shares of the company’s stock after selling 969 shares during the period. Patten & Patten Inc. TN’s holdings in GE HealthCare Technologies were worth $394,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GEHC. State Street Corp purchased a new stake in shares of GE HealthCare Technologies during the second quarter worth about $1,532,290,000. Vanguard Group Inc. boosted its position in GE HealthCare Technologies by 14.7% in the third quarter. Vanguard Group Inc. now owns 44,531,402 shares of the company’s stock valued at $3,029,917,000 after buying an additional 5,693,244 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in GE HealthCare Technologies in the second quarter valued at approximately $112,365,000. Trian Fund Management L.P. purchased a new stake in GE HealthCare Technologies in the second quarter valued at approximately $109,092,000. Finally, State Farm Mutual Automobile Insurance Co. purchased a new stake in GE HealthCare Technologies in the second quarter valued at approximately $107,980,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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GE HealthCare Technologies Trading Up 1.0 %

Shares of GEHC stock opened at $89.03 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 0.83. The company has a market cap of $40.54 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 3.11 and a beta of 0.94. The stock has a 50 day simple moving average of $86.31 and a 200-day simple moving average of $76.23. GE HealthCare Technologies Inc. has a 1-year low of $62.35 and a 1-year high of $94.50.

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

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, April 18th. GE HealthCare Technologies’s payout ratio is 3.97%.

Analyst Ratings Changes

GEHC has been the topic of a number of recent research reports. Morgan Stanley upped their target price on GE HealthCare Technologies from $74.00 to $86.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Argus upped their target price on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Citigroup upped their target price on GE HealthCare Technologies from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho upped their target price on GE HealthCare Technologies from $94.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, UBS Group raised GE HealthCare Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $88.00 in a report on Monday, February 12th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of “Moderate Buy” and an average target price of $93.36.

Get Our Latest Analysis on GEHC

About GE HealthCare Technologies

(Free Report)

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.