FengHe Fund Management Pte. Ltd. Makes New $13.77 Million Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• FengHe Fund Management Pte. Ltd. has invested approximately $13.77 million in GE HealthCare Technologies, acquiring 170,600 shares, making it the fund's 6th largest holding.
• GE HealthCare Technologies recently reported an earnings per share (EPS) of $1.06, significantly exceeding the consensus estimate of $0.91, along with a revenue of $5 billion for the last quarter.
• The company announced a quarterly dividend of $0.035 per share, with a projected annual dividend yield of 0.2%, indicating a solid return for investors.

FengHe Fund Management Pte. Ltd. bought a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 170,600 shares of the company's stock, valued at approximately $13,769,000. GE HealthCare Technologies makes up about 5.2% of FengHe Fund Management Pte. Ltd.'s portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in GE HealthCare Technologies during the first quarter worth $25,000. Bogart Wealth LLC boosted its stake in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after acquiring an additional 247 shares in the last quarter. Stonebridge Financial Group LLC boosted its stake in GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after acquiring an additional 222 shares in the last quarter. LGT Financial Advisors LLC boosted its stake in GE HealthCare Technologies by 46.2% during the fourth 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. Finally, Accredited Wealth Management LLC bought a new position in GE HealthCare Technologies during the fourth quarter worth $30,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Stock Down 0.4%

Shares of GEHC stock traded down $0.26 on Friday, hitting $73.40. The stock had a trading volume of 2,926,427 shares, compared to its average volume of 4,249,127. The business has a 50 day moving average of $73.90 and a 200 day moving average of $75.63. The stock has a market cap of $33.51 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. 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 posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the company posted $1.00 earnings per share. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on GEHC. Wells Fargo & Company cut their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Morgan Stanley dropped 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 research note on Thursday, July 31st. Citigroup raised their price objective on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Evercore ISI dropped their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

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.