D. E. Shaw & Co. Inc. Boosts Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

D. E. Shaw & Co. Inc. boosted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 44.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,810 shares of the company's stock after purchasing an additional 7,980 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in GE HealthCare Technologies were worth $2,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEHC. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth about $25,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC raised its holdings 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 acquiring an additional 123 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies during the 4th quarter worth approximately $30,000. Finally, Bank of Jackson Hole Trust bought a new position in GE HealthCare Technologies during the fourth quarter valued at $32,000. 82.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GEHC. The Goldman Sachs Group lowered 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 research report on Thursday, May 1st. Evercore ISI dropped their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Citigroup dropped their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Piper Sandler cut their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their target price for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Down 0.4%

Shares of GE HealthCare Technologies stock traded down $0.28 during trading on Friday, reaching $69.16. The company's stock had a trading volume of 2,486,569 shares, compared to its average volume of 3,445,857. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 3.19 and a beta of 1.21. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company has a 50-day simple moving average of $70.10 and a two-hundred day simple moving average of $79.59.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $0.90 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

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

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.