Nicholson Meyer Capital Management Inc. Acquires New Shares in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nicholson Meyer Capital Management Inc. acquired a new stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,851 shares of the company's stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors boosted its position in shares of 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 acquiring an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. lifted its stake in GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after purchasing an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GE HealthCare Technologies by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock valued at $882,777,000 after purchasing an additional 342,819 shares in the last quarter. Invesco Ltd. increased its stake in GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock valued at $630,751,000 after purchasing an additional 1,252,613 shares during the last quarter. Finally, Norges Bank acquired a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $488,531,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ GEHC traded up $1.88 during trading on Tuesday, reaching $75.95. The company had a trading volume of 3,264,796 shares, compared to its average volume of 3,513,195. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $34.78 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The stock has a 50-day moving average price of $70.87 and a two-hundred day moving average price of $77.54.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced 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 business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. As a group, sell-side analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

GE HealthCare Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 0.18%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Wells Fargo & Company cut their target price on 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. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Evercore ISI dropped their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley reduced their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus 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.