MQS Management LLC Invests $338,000 in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

MQS Management LLC bought a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,189 shares of the company's stock, valued at approximately $338,000.

A number of other large investors also recently made changes to their positions in the company. Capital Research Global Investors increased its position in GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after buying an additional 2,608,066 shares during the period. Vanguard Group Inc. grew its stake in shares of GE HealthCare Technologies by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock valued at $4,107,378,000 after acquiring an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC increased its position in GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock worth $882,777,000 after acquiring an additional 342,819 shares during the period. Invesco Ltd. increased its position in GE HealthCare Technologies by 18.4% during the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after acquiring an additional 1,252,613 shares during the period. Finally, Norges Bank acquired a new stake in GE HealthCare Technologies in the 4th quarter worth about $488,531,000. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEHC. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Morgan Stanley lowered their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Piper Sandler cut their target price on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group decreased their price target 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. Finally, UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Trading Down 0.9%

GEHC opened at $74.45 on Tuesday. 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 fifty-two week low of $57.65 and a fifty-two week high of $94.80. The company's 50 day moving average price is $72.36 and its two-hundred day moving average price is $77.33. The firm has a market capitalization of $34.09 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 2.53 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion for 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%. GE HealthCare Technologies's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies Dividend Announcement

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

GE HealthCare Technologies declared that its board has initiated a stock repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board 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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