GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Increased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 52.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,997 shares of the company's stock after buying an additional 6,858 shares during the quarter. QRG Capital Management Inc.'s holdings in GE HealthCare Technologies were worth $1,614,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GEHC. CoreFirst Bank & Trust bought a new position in GE HealthCare Technologies in the fourth quarter worth about $25,000. Runnymede Capital Advisors Inc. bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC lifted its holdings in shares of GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after purchasing an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at approximately $30,000. Finally, Ameriflex Group Inc. bought a new position in GE HealthCare Technologies during the 4th quarter worth $31,000. 82.06% of the stock is owned by institutional investors and hedge funds.

GE HealthCare Technologies Price Performance

NASDAQ GEHC opened at $71.89 on Friday. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The firm has a market capitalization of $32.92 billion, a PE ratio of 15.13, a P/E/G ratio of 2.42 and a beta of 1.13. The company's 50 day simple moving average is $69.40 and its 200 day simple moving average is $78.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the company posted $0.90 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a 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%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Citigroup reduced their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley dropped their price target on shares of 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. Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

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.

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