Stevens Capital Management LP boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 86.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,825 shares of the company's stock after purchasing an additional 7,331 shares during the quarter. Stevens Capital Management LP's holdings in GE HealthCare Technologies were worth $1,277,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of GEHC. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $20,891,000. Breakwater Capital Group bought a new position in GE HealthCare Technologies in the 1st quarter worth about $210,000. Bessemer Group Inc. grew its stake in GE HealthCare Technologies by 24.3% in the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after acquiring an additional 1,306 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in GE HealthCare Technologies by 17.4% in the 1st quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after acquiring an additional 511 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in GE HealthCare Technologies by 23.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after acquiring an additional 9,769 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.
Analyst Upgrades and Downgrades
GEHC has been the subject of several research reports. Piper Sandler lowered their price target on shares of 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. The Goldman Sachs Group decreased their target price 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 decreased their target price on shares of 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. Morgan Stanley decreased their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $88.55.
Read Our Latest Research Report on GEHC
GE HealthCare Technologies Stock Performance
Shares of NASDAQ:GEHC traded up $0.41 during midday trading on Tuesday, reaching $78.15. The company's stock had a trading volume of 1,988,428 shares, compared to its average volume of 4,005,588. The firm has a market capitalization of $35.79 billion, a PE ratio of 16.46, a P/E/G ratio of 2.62 and a beta of 1.14. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The stock has a fifty day moving average of $73.38 and a 200 day moving average of $76.92. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The firm 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 11.02% and a return on equity of 24.95%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities analysts expect 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 will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies's dividend payout ratio is presently 2.95%.
GE HealthCare Technologies announced that its board has approved a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are 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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