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

IFM Investors Pty Ltd boosted its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of GE HealthCare Technologies in the 4th quarter worth approximately $20,891,000. Breakwater Capital Group acquired a new stake in GE HealthCare Technologies in the first quarter valued at approximately $210,000. Flagship Harbor Advisors LLC raised its position in shares of GE HealthCare Technologies by 17.4% during the first quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after purchasing an additional 511 shares during the period. Bessemer Group Inc. lifted its holdings in shares of GE HealthCare Technologies by 24.3% in the 1st quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in GE HealthCare Technologies by 23.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock valued at $4,105,000 after purchasing an additional 9,769 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

GE HealthCare Technologies Stock Performance

Shares of GEHC traded up $0.59 during mid-day trading on Tuesday, hitting $75.20. The stock had a trading volume of 3,522,458 shares, compared to its average volume of 3,531,227. 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 market cap of $34.43 billion, a P/E ratio of 15.83, a PEG ratio of 2.51 and a beta of 1.14. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The business has a fifty day moving average price of $71.99 and a 200-day moving average price of $77.42.

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, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business earned $0.90 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

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

GE HealthCare Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GEHC. Wells Fargo & Company dropped 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 research report on Thursday, May 1st. The Goldman Sachs Group cut their target price 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. Citigroup lowered their price target on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen raised shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Evercore ISI lowered 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 analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Company 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.