Generali Investments Management Co LLC Buys 6,649 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Generali Investments Management Co LLC grew its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 141.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,352 shares of the company's stock after buying an additional 6,649 shares during the quarter. Generali Investments Management Co LLC's holdings in GE HealthCare Technologies were worth $916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in GE HealthCare Technologies during the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $28,000. LGT Financial Advisors LLC grew its holdings in shares of GE HealthCare Technologies by 46.2% during 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 last quarter. Accredited Wealth Management LLC purchased a new position in shares of GE HealthCare Technologies in the fourth quarter worth about $30,000. Finally, Ameriflex Group Inc. purchased a new position in GE HealthCare Technologies during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GEHC. Citigroup cut their price target on 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. Evercore ISI lowered their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group dropped their price objective on shares of 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. Wells Fargo & Company reduced their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. 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's stock. Based on data from MarketBeat.com, GE HealthCare Technologies has an average rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Trading Up 0.6%

Shares of GEHC stock opened at $71.55 on Friday. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company has a 50 day moving average price of $68.17 and a 200 day moving average price of $78.77. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The stock has a market capitalization of $32.76 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 3.19 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS 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. Stockholders of record on Friday, April 25th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's payout ratio is 2.95%.

GE HealthCare Technologies declared that its board has initiated a share repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is 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.

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