Bayesian Capital Management LP Acquires New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bayesian Capital Management LP bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,728 shares of the company's stock, valued at approximately $761,000.

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

GE HealthCare Technologies Trading Down 1.6 %

GEHC opened at $69.37 on Tuesday. 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 52 week low of $57.65 and a 52 week high of $94.80. The business's 50 day moving average is $73.91 and its two-hundred day moving average is $81.15. The firm has a market cap of $31.76 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion for 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 company's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has initiated a share buyback plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GEHC shares. BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Wells Fargo & Company cut their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Evercore ISI lowered their price objective 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. Piper Sandler cut their target price 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. Finally, UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $74.00 to $73.00 in a report on Monday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.30.

About GE HealthCare Technologies

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.

Want to see what other hedge funds are holding GEHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.