Motley Fool Asset Management LLC Makes New $1.72 Million Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Motley Fool Asset Management LLC has purchased 21,298 shares of GE HealthCare Technologies Inc. valued at approximately $1.7 million, reflecting strong institutional interest in the company.
• Analysts have varied responses to GE HealthCare Technologies, with Goldman Sachs lowering their price target to $82 while Wall Street Zen upgraded it to a “buy” rating, indicating mixed sentiments in the market.
• The company reported earnings of $1.06 EPS, surpassing estimates, and announced a $1 billion share repurchase plan, signaling confidence in its stock valuation.

Motley Fool Asset Management LLC purchased a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,298 shares of the company's stock, valued at approximately $1,719,000.

Other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $20,891,000. Breakwater Capital Group bought a new stake in shares of GE HealthCare Technologies during the first quarter worth approximately $210,000. Bessemer Group Inc. raised its stake in shares of GE HealthCare Technologies by 24.3% during the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after buying an additional 1,306 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of GE HealthCare Technologies by 17.4% during the first quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after buying an additional 511 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of GE HealthCare Technologies by 23.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after buying an additional 9,769 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Down 0.4%

Shares of GE HealthCare Technologies stock traded down $0.26 on Friday, hitting $73.40. The company had a trading volume of 2,926,427 shares, compared to its average volume of 4,249,127. The firm has a market capitalization of $33.51 billion, a P/E ratio of 15.04, a P/E/G ratio of 2.81 and a beta of 1.13. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. The stock has a 50-day moving average of $73.90 and a 200-day moving average of $75.71.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to analysts' expectations of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. The business's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its board has initiated a stock buyback program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were issued a dividend of $0.035 per share. The ex-dividend date was Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.2%. GE HealthCare Technologies's dividend payout ratio is presently 2.87%.

Analysts Set New Price Targets

GEHC has been the subject of a number of recent research reports. Evercore ISI dropped their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Morgan Stanley decreased their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.55.

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.