AXS Investments LLC Has $1.44 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• AXS Investments LLC increased its stake in GE HealthCare Technologies by 84.6% in the first quarter, bringing its total holdings to $1.44 million.
• Several analysts have modified their target prices for GE HealthCare Technologies, with updates from Piper Sandler and Goldman Sachs indicating a trend of decreasing valuations.
• GE HealthCare Technologies announced a $1 billion share repurchase plan, reflecting management's belief that the stock is undervalued.

AXS Investments LLC increased its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 84.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,797 shares of the company's stock after purchasing an additional 8,154 shares during the quarter. AXS Investments LLC's holdings in GE HealthCare Technologies were worth $1,436,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new position in GE HealthCare Technologies during the first quarter worth $25,000. Bogart Wealth LLC grew its position in shares of GE HealthCare Technologies by 260.0% in the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after acquiring an additional 247 shares during the period. Stonebridge Financial Group LLC grew its position in shares of GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the period. LGT Financial Advisors LLC increased its stake in shares of 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 purchasing an additional 123 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $30,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

GEHC stock traded up $0.90 during midday trading on Friday, reaching $72.00. The company had a trading volume of 2,715,607 shares, compared to its average volume of 4,414,311. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The stock has a 50 day moving average price of $73.62 and a 200-day moving average price of $76.20. 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 company has a market capitalization of $32.87 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.72 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $4.96 billion. During the same period in the previous year, the company earned $1.00 EPS. The business's revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has approved a share repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be 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 of this dividend is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GEHC shares. Wells Fargo & Company reduced their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Piper Sandler reduced their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Evercore ISI decreased their target price on 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 GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Morgan Stanley decreased their price objective on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.