Wellington Management Group LLP Raises Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Wellington Management Group LLP boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,341 shares of the company's stock after buying an additional 3,575 shares during the period. Wellington Management Group LLP's holdings in GE HealthCare Technologies were worth $1,903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in GE HealthCare Technologies by 29.8% during the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock valued at $209,624,000 after purchasing an additional 512,778 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of GE HealthCare Technologies by 9.5% during the 4th quarter. DAVENPORT & Co LLC now owns 14,730 shares of the company's stock worth $1,152,000 after acquiring an additional 1,279 shares during the last quarter. Spire Wealth Management purchased a new position in GE HealthCare Technologies in the fourth quarter worth $250,000. Mather Group LLC. grew its position in GE HealthCare Technologies by 14.3% in the fourth quarter. Mather Group LLC. now owns 1,977 shares of the company's stock worth $155,000 after acquiring an additional 247 shares in the last quarter. Finally, Sargent Investment Group LLC increased its stake in GE HealthCare Technologies by 5.8% in the fourth quarter. Sargent Investment Group LLC now owns 3,914 shares of the company's stock valued at $334,000 after acquiring an additional 215 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Trading Up 0.1%

Shares of NASDAQ:GEHC traded up $0.05 during midday trading on Monday, hitting $71.67. 2,075,612 shares of the stock traded hands, compared to its average volume of 3,438,778. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business's 50 day moving average is $68.01 and its two-hundred day moving average is $78.62. The stock has a market capitalization of $32.82 billion, a PE ratio of 16.55, a P/E/G ratio of 3.19 and a beta of 1.13. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. GE HealthCare Technologies's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. 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. Citigroup cut their target price on 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. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Evercore ISI lowered their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Three 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.