15,103 Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC) Purchased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC invested approximately $1.22 million in GE HealthCare Technologies by acquiring 15,103 shares during the first quarter.
• GE HealthCare Technologies recently announced a quarterly dividend of $0.035 per share, with a payout ratio of 2.87%.
• Institutional investors now own 82.06% of GE HealthCare Technologies' stock, indicating strong institutional interest in the company.

Headlands Technologies LLC purchased a new stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,103 shares of the company's stock, valued at approximately $1,219,000.

Several other hedge funds have also recently modified their holdings of GEHC. Capital Research Global Investors increased its position in GE HealthCare Technologies by 4.5% in the fourth quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after purchasing an additional 2,608,066 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of GE HealthCare Technologies by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,785,740 shares of the company's stock valued at $374,162,000 after purchasing an additional 596,486 shares during the period. Northern Trust Corp boosted its stake in shares of GE HealthCare Technologies by 13.6% during the fourth quarter. Northern Trust Corp now owns 4,631,875 shares of the company's stock valued at $362,120,000 after purchasing an additional 555,816 shares during the period. D1 Capital Partners L.P. boosted its stake in shares of GE HealthCare Technologies by 22.0% during the fourth quarter. D1 Capital Partners L.P. now owns 3,486,584 shares of the company's stock valued at $272,581,000 after purchasing an additional 629,270 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GE HealthCare Technologies by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,096 shares of the company's stock worth $259,956,000 after acquiring an additional 416,386 shares during the period. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 1.3%

GEHC stock traded up $0.90 during trading on Friday, hitting $72.00. 2,715,607 shares of the company's stock were exchanged, compared to its average volume of 4,414,311. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.75 and a beta of 1.13. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The business has a 50-day moving average price of $73.62 and a two-hundred day moving average price of $76.12. The company has a current ratio of 1.16, a quick ratio of 0.93 and a debt-to-equity ratio of 0.85.

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

GE HealthCare Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued 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 is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.87%.

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

Analyst Ratings Changes

A number of research analysts have 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 report on Saturday, May 31st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Piper Sandler dropped their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Evercore ISI decreased 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. Finally, The Goldman Sachs Group cut their target price 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus 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.