Aigen Investment Management LP Invests $2.32 Million in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Aigen Investment Management LP acquired a new position in GE HealthCare Technologies Inc., purchasing 28,768 shares valued at approximately $2.32 million.
• GE HealthCare reported a better-than-expected earnings per share of $1.06 for the last quarter, surpassing analyst estimates of $0.91, alongside a 3.5% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.035 per share, which signifies a 0.2% yield, and initiated a stock buyback program authorizing repurchase of up to $1 billion in shares.

Aigen Investment Management LP acquired a new position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,768 shares of the company's stock, valued at approximately $2,322,000.

A number of other large investors also recently bought and sold shares of GEHC. N.E.W. Advisory Services LLC acquired a new position in shares of GE HealthCare Technologies during the first quarter worth $25,000. Bogart Wealth LLC increased its position in shares of GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after purchasing an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its position in shares of GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares in the last quarter. LGT Financial Advisors LLC increased 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 purchasing an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $30,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $1.72 during mid-day trading on Thursday, hitting $73.61. The company's stock had a trading volume of 1,593,176 shares, compared to its average volume of 4,067,491. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year 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 market cap of $33.61 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 2.84 and a beta of 1.13. The business's fifty day moving average is $73.83 and its two-hundred day moving average is $75.91.

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

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

GE HealthCare Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEHC. Citigroup upped their price target on GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

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.