BNP Paribas Financial Markets Purchases Shares of 973,307 GE HealthCare Technologies Inc. (NASDAQ:GEHC)

BNP Paribas Financial Markets purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 973,307 shares of the company's stock, valued at approximately $76,093,000. BNP Paribas Financial Markets owned 0.21% of GE HealthCare Technologies as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GEHC. CoreFirst Bank & Trust bought a new stake in GE HealthCare Technologies in the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies in the 4th quarter valued at $28,000. LGT Financial Advisors LLC grew its stake in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares during the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter worth about $30,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $32,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded up $4.75 during trading hours on Monday, reaching $74.62. The company's stock had a trading volume of 3,062,969 shares, compared to its average volume of 3,361,511. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The stock has a market cap of $34.17 billion, a P/E ratio of 17.18, a P/E/G ratio of 3.19 and a beta of 1.21. The firm has a 50 day moving average price of $72.49 and a 200-day moving average price of $80.58. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio is presently 2.95%.

GE HealthCare Technologies announced that its board has authorized a stock repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. Morgan Stanley dropped their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Piper Sandler lowered their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Evercore ISI cut their target price on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Citigroup reduced their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

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.