IFM Investors Pty Ltd Buys 5,372 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

IFM Investors Pty Ltd raised its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,343 shares of the company's stock after acquiring an additional 5,372 shares during the quarter. IFM Investors Pty Ltd's holdings in GE HealthCare Technologies were worth $7,372,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. CoreFirst Bank & Trust acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $25,000. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies during the fourth quarter worth $28,000. Stonebridge Financial Group LLC lifted its holdings in shares of GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock worth $29,000 after purchasing an additional 222 shares during the period. LGT Financial Advisors LLC lifted 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 worth $30,000 after purchasing an additional 123 shares during the period. Finally, Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies in the fourth quarter valued at $30,000. 82.06% of the stock is owned by institutional investors.

GE HealthCare Technologies Trading Up 0.3%

GEHC traded up $0.22 during trading on Wednesday, hitting $75.42. 1,498,472 shares of the stock traded hands, compared to its average volume of 3,524,663. The firm has a market capitalization of $34.53 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The firm has a 50-day moving average of $71.99 and a 200 day moving average of $77.42. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly 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 business had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has approved 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies's dividend payout ratio is 2.95%.

Wall Street Analysts Forecast Growth

GEHC has been the topic of several recent analyst reports. Citigroup dropped 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 report on Wednesday, April 30th. Morgan Stanley decreased their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company cut their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Finally, BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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.