Trexquant Investment LP Invests $4.80 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Trexquant Investment LP purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,361 shares of the company’s stock, valued at approximately $4,797,000.

A number of other hedge funds have also recently bought and sold shares of GEHC. Vanguard Group Inc. boosted its stake in shares of GE HealthCare Technologies by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company’s stock valued at $4,107,378,000 after buying an additional 2,155,429 shares during the last quarter. State Street Corp grew its holdings 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 acquiring an additional 1,347,114 shares in the last quarter. Geode Capital Management LLC grew its holdings in GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company’s stock worth $882,777,000 after acquiring an additional 342,819 shares in the last quarter. Norges Bank acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $488,531,000. Finally, Van ECK Associates Corp lifted its position in shares of GE HealthCare Technologies by 107.3% during the fourth quarter. Van ECK Associates Corp now owns 4,841,652 shares of the company’s stock worth $378,520,000 after purchasing an additional 2,506,417 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

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

GE HealthCare Technologies Stock Down 16.0 %

GEHC stock opened at $60.51 on Friday. The stock has a market cap of $27.67 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The firm’s 50-day simple moving average is $85.41 and its 200 day simple moving average is $85.43. GE HealthCare Technologies Inc. has a fifty-two week low of $58.04 and a fifty-two week high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS 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 net margin of 10.13% and a return on equity of 25.74%. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.23%. GE HealthCare Technologies’s payout ratio is 3.23%.

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.