CHURCHILL MANAGEMENT Corp Has $9.10 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

CHURCHILL MANAGEMENT Corp lifted its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,750 shares of the company's stock after purchasing an additional 5,323 shares during the period. CHURCHILL MANAGEMENT Corp's holdings in GE HealthCare Technologies were worth $9,100,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GEHC. Norges Bank acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at $488,531,000. Capital Research Global Investors raised its holdings in shares of GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares during the period. Vanguard Group Inc. lifted its stake in GE HealthCare Technologies by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. Eminence Capital LP bought a new position in GE HealthCare Technologies during the fourth quarter worth about $102,574,000. Finally, Invesco Ltd. grew its holdings in GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

GE HealthCare Technologies stock traded up $1.88 during mid-day trading on Tuesday, reaching $75.95. 3,264,796 shares of the company were exchanged, compared to its average volume of 3,511,475. The firm has a market cap of $34.78 billion, a PE ratio of 15.99, a PEG ratio of 2.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The company has a fifty day simple moving average of $70.87 and a 200-day simple moving average of $77.54. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the company earned $0.90 EPS. The business's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal 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 0.18%. GE HealthCare Technologies's dividend payout ratio is presently 2.95%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GEHC. Piper Sandler cut their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Citigroup dropped their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

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.