HB Wealth Management LLC Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• HB Wealth Management LLC increased its stake in GE HealthCare Technologies by 51.6%, holding a total of 12,682 shares worth approximately $1,024,000.
• GE HealthCare Technologies announced a quarterly dividend of $0.035 per share, which will be paid on August 15th, representing an annual dividend yield of 0.20%.
• Wall Street analysts have varied views on the stock, with ratings ranging from buy to hold, while the consensus target price is set at $88.55.

HB Wealth Management LLC raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 51.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,682 shares of the company's stock after acquiring an additional 4,316 shares during the period. HB Wealth Management LLC's holdings in GE HealthCare Technologies were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors increased its position in shares of GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after purchasing an additional 2,608,066 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of GE HealthCare Technologies by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock worth $882,777,000 after acquiring an additional 342,819 shares during the last quarter. Invesco Ltd. boosted its position in shares of GE HealthCare Technologies by 18.4% during the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after purchasing an additional 1,252,613 shares during the period. Dimensional Fund Advisors LP raised its position in GE HealthCare Technologies by 14.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,785,740 shares of the company's stock valued at $374,162,000 after purchasing an additional 596,486 shares during the period. Finally, Northern Trust Corp boosted its position in shares of GE HealthCare Technologies by 13.6% during the fourth quarter. Northern Trust Corp now owns 4,631,875 shares of the company's stock worth $362,120,000 after buying an additional 555,816 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded down $0.32 on Thursday, hitting $71.32. The stock had a trading volume of 6,256,943 shares, compared to its average volume of 3,725,612. The stock has a market cap of $32.66 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.43 and a beta of 1.14. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.85. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The company's 50 day moving average price is $73.54 and its 200 day moving average price is $76.89.

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 for the quarter, beating the consensus estimate of $0.91 by $0.15. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The company's revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. On average, research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has approved a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GEHC shares. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $74.00 to $73.00 in a research note on Monday, May 5th. Citigroup upped their target price on shares of GE HealthCare Technologies from $89.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday. Evercore ISI decreased their price target 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. Finally, BTIG Research reaffirmed a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

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.