Bellevue Group AG Has $41 Million Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Bellevue Group AG lessened its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 524,414 shares of the company's stock after selling 7,553 shares during the period. GE HealthCare Technologies makes up about 0.8% of Bellevue Group AG's holdings, making the stock its 27th largest position. Bellevue Group AG owned 0.11% of GE HealthCare Technologies worth $40,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC grew its holdings in 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 bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth $30,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at about $32,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock opened at $70.53 on Friday. The firm's 50 day simple moving average is $74.34 and its 200 day simple moving average is $81.37. The firm has a market capitalization of $32.29 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

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

GE HealthCare Technologies declared that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are 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 paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 3.23%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating and lifted their target price for the stock from $95.00 to $103.00 in a research report on Wednesday, January 8th. Citigroup decreased their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday. Finally, Piper Sandler decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

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.

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