GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its stake in GE HealthCare Technologies by 3.9%, owning 0.06% of the company valued at approximately $23.34 million.
• GE HealthCare Technologies recently reported earnings per share of $1.06, surpassing consensus estimates, and had a revenue increase of 3.5% year-over-year.
• The company announced a quarterly dividend of $0.035, with a yield of 0.2%, along with a share buyback plan authorizing $1 billion in repurchases.

Rathbones Group PLC raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 289,196 shares of the company's stock after purchasing an additional 10,859 shares during the quarter. Rathbones Group PLC owned about 0.06% of GE HealthCare Technologies worth $23,341,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Research Global Investors increased its stake in 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 buying an additional 2,608,066 shares during the period. JPMorgan Chase & Co. increased its stake in GE HealthCare Technologies by 49.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,140,549 shares of the company's stock worth $414,894,000 after buying an additional 1,711,963 shares during the period. Eminence Capital LP purchased a new stake in GE HealthCare Technologies during the 4th quarter worth $102,574,000. BNP Paribas Financial Markets purchased a new stake in GE HealthCare Technologies during the 4th quarter worth $76,093,000. Finally, Nuveen LLC purchased a new stake in GE HealthCare Technologies during the 1st quarter worth $77,058,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded down $0.26 during trading on Friday, reaching $73.40. 2,926,427 shares of the company's stock traded hands, compared to its average volume of 4,249,127. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a 50 day moving average of $73.90 and a 200-day moving average of $75.63. The stock has a market capitalization of $33.51 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.15. The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a net margin of 11.22% and a return on equity of 23.93%. GE HealthCare Technologies's revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, July 25th. GE HealthCare Technologies's payout ratio is presently 2.87%.

GE HealthCare Technologies declared that its board has initiated a share repurchase plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GEHC shares. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Citigroup boosted 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 report on Thursday, July 31st. Evercore ISI dropped 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. Piper Sandler dropped their target price 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. Finally, Wells Fargo & Company dropped 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

About GE HealthCare Technologies

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.