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GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Purchased by Eagle Rock Investment Company LLC

GE HealthCare Technologies logo with Medical background

Eagle Rock Investment Company LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,076 shares of the company's stock after purchasing an additional 9,955 shares during the quarter. GE HealthCare Technologies comprises about 1.0% of Eagle Rock Investment Company LLC's holdings, making the stock its 28th biggest holding. Eagle Rock Investment Company LLC's holdings in GE HealthCare Technologies were worth $5,817,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GEHC. JPMorgan Chase & Co. increased its stake in GE HealthCare Technologies by 29.8% in the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock valued at $209,624,000 after purchasing an additional 512,778 shares during the last quarter. DAVENPORT & Co LLC increased its stake in GE HealthCare Technologies by 9.5% in the fourth quarter. DAVENPORT & Co LLC now owns 14,730 shares of the company's stock valued at $1,152,000 after purchasing an additional 1,279 shares during the last quarter. Spire Wealth Management purchased a new position in GE HealthCare Technologies in the fourth quarter valued at approximately $250,000. Mather Group LLC. increased its stake in GE HealthCare Technologies by 14.3% in the fourth quarter. Mather Group LLC. now owns 1,977 shares of the company's stock valued at $155,000 after purchasing an additional 247 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of GE HealthCare Technologies by 7.4% during the fourth quarter. Yousif Capital Management LLC now owns 68,958 shares of the company's stock worth $5,391,000 after acquiring an additional 4,768 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GEHC shares. The Goldman Sachs Group cut their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" 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 cut their target price for the company from $74.00 to $73.00 in a report on Monday, May 5th. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Piper Sandler cut their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.27.

Check Out Our Latest Analysis on GEHC

GE HealthCare Technologies Stock Performance

Shares of GEHC stock traded up $2.25 during trading hours on Tuesday, reaching $73.92. 4,532,786 shares of the company's stock were exchanged, compared to its average volume of 3,448,447. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83. The company's 50 day moving average is $67.90 and its two-hundred day moving average is $78.52. The company has a market cap of $33.85 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year 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, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The business's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Equities 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 Thursday, May 15th. Stockholders of record on Friday, April 25th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

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

About GE HealthCare Technologies

(Free Report)

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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Institutional Ownership by Quarter for GE HealthCare Technologies (NASDAQ:GEHC)

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