Nuveen Asset Management LLC Has $72.15 Million Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Nuveen Asset Management LLC lowered its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 922,880 shares of the company's stock after selling 4,998 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.20% of GE HealthCare Technologies worth $72,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of GE HealthCare Technologies by 4.5% during the fourth 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 during the last quarter. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 2,155,429 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 last quarter. Invesco Ltd. raised its position in shares of 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 last quarter. Finally, Norges Bank bought a new stake in shares of GE HealthCare Technologies during the fourth quarter worth $488,531,000. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 0.4%

NASDAQ:GEHC traded down $0.28 on Friday, reaching $69.16. The company's stock had a trading volume of 2,486,569 shares, compared to its average volume of 3,437,809. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The firm has a market cap of $31.67 billion, a PE ratio of 15.97, a PEG ratio of 3.19 and a beta of 1.21. The business's 50-day moving average price is $70.10 and its two-hundred day moving average price is $79.64.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the firm earned $0.90 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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

GE HealthCare Technologies Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GEHC shares. Wells Fargo & Company dropped their target price on 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. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Evercore ISI dropped their price objective on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Piper Sandler dropped their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, GE HealthCare Technologies currently has a consensus 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.