Farallon Capital Management LLC Invests $9.69 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Farallon Capital Management LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 124,000 shares of the company's stock, valued at approximately $9,694,000.

Other hedge funds also recently modified their holdings of the company. CoreFirst Bank & Trust bought a new position in GE HealthCare Technologies during the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies during the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC boosted 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 worth $30,000 after acquiring an additional 123 shares during the last quarter. Accredited Wealth Management LLC bought a new position in GE HealthCare Technologies during the 4th quarter worth approximately $30,000. Finally, Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies during the 4th quarter worth approximately $32,000. Institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEHC. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group cut their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley cut their price objective on shares of 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. Finally, Piper Sandler cut their price objective on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Stock Down 0.9%

Shares of GEHC traded down $0.63 during trading hours on Friday, reaching $69.87. The stock had a trading volume of 5,722,041 shares, compared to its average volume of 3,362,191. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a 50-day simple moving average of $72.49 and a 200 day simple moving average of $80.58. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $31.99 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 3.19 and a beta of 1.21.

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

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

GE HealthCare Technologies Announces Dividend

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

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.