Principal Financial Group Inc. Has $76.68 Million Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Principal Financial Group Inc. boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 950,055 shares of the company's stock after buying an additional 21,962 shares during the quarter. Principal Financial Group Inc. owned approximately 0.21% of GE HealthCare Technologies worth $76,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC raised its holdings in shares of GE HealthCare Technologies by 165.7% during the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares in the last quarter. LGT Financial Advisors LLC raised its holdings in shares of GE HealthCare Technologies by 46.2% during the 4th quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after purchasing an additional 123 shares in the last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of GE HealthCare Technologies during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup dropped their target price 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. BTIG Research set a $95.00 target price on shares of GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. Morgan Stanley dropped their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded down $1.46 during midday trading on Monday, hitting $74.61. The company had a trading volume of 3,528,309 shares, compared to its average volume of 3,523,785. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. The stock has a market cap of $34.16 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 2.56 and a beta of 1.14. The firm has a fifty day simple moving average of $71.72 and a two-hundred day simple moving average of $77.47. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly earnings results 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 company 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 business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. Equities analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies declared that its board has approved a share buyback plan on Wednesday, April 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.