GE HealthCare Technologies Inc. (NASDAQ:GEHC) Position Increased by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 71.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,133 shares of the company's stock after acquiring an additional 8,404 shares during the quarter. Bridge Creek Capital Management LLC's holdings in GE HealthCare Technologies were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of GE HealthCare Technologies during the 4th quarter worth about $20,891,000. Apollon Wealth Management LLC boosted its stake in shares of GE HealthCare Technologies by 46.5% during the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock worth $1,025,000 after purchasing an additional 4,160 shares during the last quarter. Argus Investors Counsel Inc. acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter worth approximately $224,000. JPMorgan Chase & Co. boosted its position in shares of GE HealthCare Technologies by 29.8% in the third quarter. JPMorgan Chase & Co. now owns 2,233,603 shares of the company's stock worth $209,624,000 after acquiring an additional 512,778 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of GE HealthCare Technologies by 5.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 174,412 shares of the company's stock worth $13,867,000 after acquiring an additional 9,662 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 0.1%

Shares of GEHC traded up $0.07 during mid-day trading on Friday, reaching $71.62. 2,152,672 shares of the stock traded hands, compared to its average volume of 3,439,902. The firm has a market cap of $32.79 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 3.19 and a beta of 1.13. The stock has a fifty day simple moving average of $68.01 and a 200 day simple moving average of $78.69. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 10.13% and a return on equity of 25.74%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies announced that its Board of Directors has initiated a share repurchase program on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

GEHC has been the topic of several research analyst reports. Evercore ISI decreased their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Citigroup decreased their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Piper Sandler decreased their target price on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, UBS Group raised 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. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.27.

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.