Janus Henderson Group PLC Purchases 11,041 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Janus Henderson Group PLC boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 21.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,620 shares of the company's stock after acquiring an additional 11,041 shares during the period. Janus Henderson Group PLC's holdings in GE HealthCare Technologies were worth $4,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. boosted its holdings in GE HealthCare Technologies by 0.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 37,351 shares of the company's stock worth $2,920,000 after acquiring an additional 114 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of GE HealthCare Technologies by 6.0% in the fourth quarter. Independence Bank of Kentucky now owns 2,018 shares of the company's stock valued at $158,000 after purchasing an additional 114 shares in the last quarter. Haverford Trust Co lifted its holdings in shares of GE HealthCare Technologies by 2.4% in the fourth quarter. Haverford Trust Co now owns 4,896 shares of the company's stock valued at $383,000 after purchasing an additional 115 shares in the last quarter. Tandem Capital Management Corp ADV lifted its holdings in shares of GE HealthCare Technologies by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 28,210 shares of the company's stock valued at $2,205,000 after purchasing an additional 118 shares in the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in shares of GE HealthCare Technologies by 3.0% in the fourth quarter. Arcus Capital Partners LLC now owns 4,113 shares of the company's stock valued at $322,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

GE HealthCare Technologies stock traded down $0.28 during mid-day trading on Friday, reaching $69.16. 2,486,569 shares of the company's stock were exchanged, compared to its average volume of 3,445,857. The business's fifty day simple moving average is $70.10 and its 200 day simple moving average is $79.59. The firm has a market capitalization of $31.67 billion, a PE ratio of 15.97, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a one year low of $57.65 and a one year high of $94.80. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

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, topping analysts' consensus estimates of $0.91 by $0.10. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $0.90 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies announced that its board has initiated a share buyback program on Wednesday, April 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, April 25th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price 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. Citigroup dropped their target price on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group dropped their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, GE HealthCare Technologies presently has an average 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.