GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC grew its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 13.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 237,322 shares of the company's stock after buying an additional 28,445 shares during the quarter. AQR Capital Management LLC owned 0.05% of GE HealthCare Technologies worth $18,554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new position in GE HealthCare Technologies during the 4th quarter valued at about $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies in the fourth quarter worth approximately $32,000. OFI Invest Asset Management purchased a new stake in GE HealthCare Technologies during the fourth quarter worth $34,000. Finally, Flagship Wealth Advisors LLC bought a new stake in GE HealthCare Technologies during the 4th quarter valued at $34,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

GEHC has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Citigroup lowered their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler reduced their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded up $1.71 on Thursday, reaching $70.53. 6,021,265 shares of the stock were exchanged, compared to its average volume of 3,341,079. The business has a 50 day moving average price of $73.10 and a two-hundred day moving average price of $80.97. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 3.19 and a beta of 1.21. 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 Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

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.