Galvin Gaustad & Stein LLC Purchases 9,665 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Galvin Gaustad & Stein LLC increased its stake in GE HealthCare Technologies by 6.2% during the first quarter, now owning 165,788 shares valued at approximately $13.4 million.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share, with a planned payout date of August 15th, 2023.
• Analysts have mixed ratings for GE HealthCare Technologies, with an average target price of $88.55 and three holding the stock at "hold" while nine recommend a "buy" rating.

Galvin Gaustad & Stein LLC lifted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,788 shares of the company's stock after buying an additional 9,665 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in GE HealthCare Technologies were worth $13,381,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Bogart Wealth LLC raised its position in 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 purchasing an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its holdings in shares of GE HealthCare Technologies by 165.7% in the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. LGT Financial Advisors LLC increased its holdings in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares during the period. Accredited Wealth Management LLC acquired a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $30,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $31,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on GEHC. The Goldman Sachs Group dropped their price target on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler decreased their target price 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. Citigroup raised their price target on GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley cut their target price on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research note on Monday, July 14th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GE HealthCare Technologies has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded up $0.13 during trading on Monday, reaching $77.74. The company's stock had a trading volume of 3,949,656 shares, compared to its average volume of 3,095,229. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The business's fifty day moving average price is $73.38 and its 200-day moving average price is $76.92. The firm has a market cap of $35.60 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80.

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

GE HealthCare Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

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

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.