Homestead Advisers Corp Raises Stock Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Homestead Advisers Corp raised its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 92.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 988,600 shares of the company's stock after acquiring an additional 475,500 shares during the quarter. GE HealthCare Technologies makes up 2.0% of Homestead Advisers Corp's holdings, making the stock its 20th largest holding. Homestead Advisers Corp owned about 0.22% of GE HealthCare Technologies worth $79,790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEHC. CoreFirst Bank & Trust bought a new stake in GE HealthCare Technologies during the 4th quarter valued at $25,000. Bogart Wealth LLC grew its holdings in GE HealthCare Technologies by 260.0% during the 1st quarter. Bogart Wealth LLC now owns 342 shares of the company's stock worth $28,000 after acquiring an additional 247 shares in the last quarter. Stonebridge Financial Group LLC increased its position in GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. LGT Financial Advisors LLC increased its position in GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares during the period. Finally, Accredited Wealth Management LLC bought a new stake in shares of GE HealthCare Technologies in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded up $0.34 during trading hours on Friday, hitting $77.08. 698,491 shares of the company were exchanged, compared to its average volume of 4,003,106. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. GE HealthCare Technologies Inc. has a 52-week low of $57.65 and a 52-week high of $94.80. The stock has a market capitalization of $35.30 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.60 and a beta of 1.14. The company's 50 day moving average price is $73.20 and its 200-day moving average price is $77.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) 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 the consensus estimate of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. As a group, research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their target price for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on 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. The Goldman Sachs Group dropped their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI reduced 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 report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Profile

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.