Perpetual Ltd Buys 51,378 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Perpetual Ltd increased its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,354,596 shares of the company's stock after purchasing an additional 51,378 shares during the period. GE HealthCare Technologies makes up 1.3% of Perpetual Ltd's investment portfolio, making the stock its 24th largest holding. Perpetual Ltd owned 0.30% of GE HealthCare Technologies worth $109,329,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at about $20,891,000. Breakwater Capital Group bought a new position in GE HealthCare Technologies in the first quarter worth approximately $210,000. Farther Finance Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 52.7% during the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the company's stock worth $357,000 after acquiring an additional 1,550 shares during the last quarter. Dark Forest Capital Management LP grew its position in shares of GE HealthCare Technologies by 154.4% during the 4th quarter. Dark Forest Capital Management LP now owns 7,343 shares of the company's stock valued at $574,000 after acquiring an additional 4,457 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of GE HealthCare Technologies by 2.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 12,891 shares of the company's stock worth $1,040,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 82.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GEHC shares. The Goldman Sachs Group decreased their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Morgan Stanley decreased 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. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Evercore ISI reduced their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Citigroup lowered their price target on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Three 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. According to MarketBeat.com, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Trading Up 2.9%

GE HealthCare Technologies stock opened at $74.86 on Friday. GE HealthCare Technologies Inc. has a 1 year low of $57.65 and a 1 year high of $94.80. The firm's 50 day moving average price is $70.36 and its 200-day moving average price is $77.70. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.76. The stock has a market cap of $34.28 billion, a P/E ratio of 15.76, a PEG ratio of 2.45 and a beta of 1.13.

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 for the quarter, beating the consensus estimate of $0.91 by $0.10. The company 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%. GE HealthCare Technologies's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies declared that its Board of Directors has approved a share repurchase 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 typically an indication that the company's management believes its shares are undervalued.

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.

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