Oak Thistle LLC Purchases New Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Oak Thistle LLC bought 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 and Exchange Commission. The firm bought 21,413 shares of the company's stock, valued at approximately $1,728,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in GE HealthCare Technologies in the 4th quarter valued at approximately $20,891,000. Breakwater Capital Group acquired a new stake in GE HealthCare Technologies in the 1st quarter valued at approximately $210,000. Flagship Harbor Advisors LLC grew its stake in shares of GE HealthCare Technologies by 17.4% in the first quarter. Flagship Harbor Advisors LLC now owns 3,443 shares of the company's stock worth $278,000 after acquiring an additional 511 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of GE HealthCare Technologies by 24.3% in the first quarter. Bessemer Group Inc. now owns 6,671 shares of the company's stock worth $538,000 after acquiring an additional 1,306 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of GE HealthCare Technologies by 23.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,859 shares of the company's stock worth $4,105,000 after acquiring an additional 9,769 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup boosted their price target on shares of GE HealthCare Technologies from $86.00 to $89.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company dropped 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 note on Thursday, May 1st. The Goldman Sachs Group dropped their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Evercore ISI dropped 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 note on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, May 31st. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

GE HealthCare Technologies Stock Up 1.1%

Shares of GE HealthCare Technologies stock traded up $0.84 during trading on Friday, hitting $77.61. 3,132,661 shares of the stock were exchanged, compared to its average volume of 3,279,447. The stock has a market cap of $35.54 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. The firm's 50-day moving average price is $73.28 and its 200 day moving average price is $77.09. GE HealthCare Technologies Inc. has a 12-month low of $57.65 and a 12-month high of $94.80. 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 (NASDAQ:GEHC - Get Free Report) last released its quarterly earnings data 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 during 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%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. As a group, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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

GE HealthCare Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies Company 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.