GAMMA Investing LLC Purchases 763,491 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

GAMMA Investing LLC lifted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 9,524.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 771,507 shares of the company's stock after acquiring an additional 763,491 shares during the quarter. GAMMA Investing LLC owned 0.17% of GE HealthCare Technologies worth $62,268,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at approximately $20,891,000. Apollon Wealth Management LLC increased its holdings in shares of GE HealthCare Technologies by 46.5% in the 4th quarter. Apollon Wealth Management LLC now owns 13,111 shares of the company's stock worth $1,025,000 after acquiring an additional 4,160 shares during the period. Argus Investors Counsel Inc. bought a new stake in GE HealthCare Technologies in the 4th quarter valued at about $224,000. JPMorgan Chase & Co. boosted its stake in GE HealthCare Technologies by 29.8% during the 3rd 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 period. Finally, Asset Management One Co. Ltd. boosted its stake in GE HealthCare Technologies by 5.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 174,412 shares of the company's stock valued at $13,867,000 after purchasing an additional 9,662 shares during the period. 82.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GEHC has been the subject of several analyst reports. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Citigroup lowered their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley decreased their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Finally, Wells Fargo & Company decreased their price objective on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Three 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded up $0.42 during trading on Thursday, hitting $71.55. The company had a trading volume of 1,864,761 shares, compared to its average volume of 3,437,854. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The business's 50-day moving average is $68.35 and its 200 day moving average is $78.84. The company has a market cap of $32.76 billion, a P/E ratio of 16.52, a PEG ratio of 3.19 and a beta of 1.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were issued a dividend of $0.035 per share. The ex-dividend date 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 currently 2.95%.

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

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.