Alpha Family Trust Takes $276,000 Position in GE HealthCare Technologies Inc. $GEHC

Key Points

• Alpha Family Trust acquired a new stake in GE HealthCare Technologies Inc. valued at approximately $276,000 by purchasing 3,415 shares.
• Institutional investors hold 82.06% of GE HealthCare Technologies' stock, indicating strong institutional interest.
• The company recently reported better-than-expected quarterly earnings, with an EPS of $1.06, surpassing analysts' estimates of $0.91.

Alpha Family Trust bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,415 shares of the company's stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group increased its stake in shares of GE HealthCare Technologies by 26.2% in the 1st quarter. Brooklyn Investment Group now owns 2,429 shares of the company's stock valued at $196,000 after buying an additional 505 shares during the period. Freestone Capital Holdings LLC increased its stake in shares of GE HealthCare Technologies by 5.1% in the 1st quarter. Freestone Capital Holdings LLC now owns 3,454 shares of the company's stock valued at $279,000 after buying an additional 169 shares during the period. Knuff & Co LLC increased its stake in shares of GE HealthCare Technologies by 1.5% in the 1st quarter. Knuff & Co LLC now owns 10,276 shares of the company's stock valued at $829,000 after buying an additional 150 shares during the period. Raymond James Financial Inc. increased its stake in shares of GE HealthCare Technologies by 13.3% in the 1st quarter. Raymond James Financial Inc. now owns 1,064,955 shares of the company's stock valued at $85,953,000 after buying an additional 125,170 shares during the period. Finally, Thompson Davis & CO. Inc. bought a new position in shares of GE HealthCare Technologies in the 1st quarter worth $205,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on GEHC shares. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Morgan Stanley reduced their price target on GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. The Goldman Sachs Group reduced their price target on 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. Citigroup raised 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. Finally, Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Trading Down 0.4%

GEHC opened at $73.40 on Monday. The stock has a market capitalization of $33.51 billion, a P/E ratio of 15.04, a P/E/G ratio of 2.80 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm's fifty day simple moving average is $73.90 and its 200 day simple moving average is $75.53. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

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

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Company 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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