Achmea Investment Management B.V. raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 49.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,951 shares of the company's stock after acquiring an additional 13,155 shares during the quarter. Achmea Investment Management B.V.'s holdings in GE HealthCare Technologies were worth $3,224,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Haverford Trust Co grew its holdings in GE HealthCare Technologies by 2.4% during the 4th quarter. Haverford Trust Co now owns 4,896 shares of the company's stock worth $383,000 after acquiring an additional 115 shares during the period. Intact Investment Management Inc. increased its holdings in GE HealthCare Technologies by 15.4% in the fourth quarter. Intact Investment Management Inc. now owns 900 shares of the company's stock worth $70,000 after purchasing an additional 120 shares in the last quarter. LGT Financial Advisors LLC lifted its stake in 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 buying an additional 123 shares during the period. Integrated Wealth Concepts LLC lifted its stake in GE HealthCare Technologies by 0.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock valued at $1,343,000 after buying an additional 126 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 1.9% during the 4th quarter. Parallel Advisors LLC now owns 7,135 shares of the company's stock worth $558,000 after buying an additional 135 shares in the last quarter. Institutional investors own 82.06% of the company's stock.
Wall Street Analysts Forecast Growth
GEHC has been the topic of a number of research reports. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. The Goldman Sachs Group cut their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Wells Fargo & Company reduced their target price 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. Finally, Piper Sandler decreased their price target 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. Three investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.
Get Our Latest Report on GEHC
GE HealthCare Technologies Stock Performance
Shares of GEHC stock traded up $1.88 on Tuesday, hitting $75.95. 3,264,796 shares of the stock were exchanged, compared to its average volume of 3,513,195. The firm's 50 day moving average is $71.16 and its two-hundred day moving average is $77.52. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The firm has a market capitalization of $34.78 billion, a PE ratio of 15.99, a P/E/G ratio of 2.50 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73.
GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted 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. The company 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 company's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.
GE HealthCare Technologies declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign 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. Stockholders of record on Friday, July 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.
GE HealthCare Technologies Company Profile
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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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