Lecap Asset Management Ltd. Takes $4.04 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Lecap Asset Management Ltd. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 50,029 shares of the company's stock, valued at approximately $4,038,000. GE HealthCare Technologies comprises approximately 0.9% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $25,000. Runnymede Capital Advisors Inc. bought a new position in GE HealthCare Technologies in the fourth quarter worth $28,000. LGT Financial Advisors LLC raised its holdings in GE HealthCare Technologies by 46.2% in 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 in the last quarter. Accredited Wealth Management LLC bought a new position in GE HealthCare Technologies in the fourth quarter worth $30,000. Finally, Ameriflex Group Inc. bought a new position in GE HealthCare Technologies in the fourth quarter worth $31,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

Shares of GE HealthCare Technologies stock traded down $0.48 during trading on Friday, hitting $74.38. 6,672,640 shares of the company's stock traded hands, compared to its average volume of 3,538,207. 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 1 year low of $57.65 and a 1 year high of $94.80. The stock has a market capitalization of $34.06 billion, a P/E ratio of 15.66, a PEG ratio of 2.52 and a beta of 1.13. The business has a 50-day simple moving average of $70.60 and a 200-day simple moving average of $77.65.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The business's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 earnings per share. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

GEHC has been the subject of a number of research reports. Morgan Stanley decreased their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Piper Sandler cut their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.27.

About GE HealthCare Technologies

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.