Koss Olinger Consulting LLC Makes New Investment in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Key Points

• Koss Olinger Consulting LLC has acquired a new investment in GE HealthCare Technologies Inc., purchasing 4,268 shares valued at approximately $344,000 during the first quarter.
• Wall Street analysts have generally rated GE HealthCare Technologies as a "Moderate Buy," with an average price target of $88.55, despite several firms lowering their price targets in recent reports.
• The company announced a quarterly dividend of $0.035 per share, representing an annualized yield of 0.2%, and a share buyback plan allowing the repurchase of $1.00 billion in outstanding shares.

Koss Olinger Consulting LLC purchased a new position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,268 shares of the company's stock, valued at approximately $344,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC boosted its holdings in shares of GE HealthCare Technologies by 46.2% in the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of GE HealthCare Technologies by 0.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock valued at $1,343,000 after buying an additional 126 shares in the last quarter. Graypoint LLC boosted its holdings in shares of GE HealthCare Technologies by 5.7% in the 1st quarter. Graypoint LLC now owns 3,028 shares of the company's stock valued at $244,000 after buying an additional 162 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of GE HealthCare Technologies by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 5,336 shares of the company's stock valued at $431,000 after buying an additional 166 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of GE HealthCare Technologies by 5.2% in the 1st quarter. Spire Wealth Management now owns 3,367 shares of the company's stock valued at $272,000 after buying an additional 166 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of 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. Evercore ISI reduced their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. BTIG Research reiterated a "buy" rating on shares of GE HealthCare Technologies in a research report on Monday, July 14th. Morgan Stanley reduced their price target on shares of GE HealthCare Technologies from $78.00 to $74.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group cut their price objective on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.55.

GE HealthCare Technologies Stock Performance

Shares of GEHC opened at $72.00 on Friday. The company has a 50-day simple moving average of $73.62 and a 200-day simple moving average of $76.12. The company has a quick ratio of 0.93, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $32.87 billion, a PE ratio of 14.75, a P/E/G 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.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 11.22% and a return on equity of 23.93%. The business's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 EPS. Equities research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.87%.

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

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.

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