Quantinno Capital Management LP Boosts Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Quantinno Capital Management LP boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 25.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,040 shares of the company's stock after buying an additional 7,379 shares during the quarter. Quantinno Capital Management LP's holdings in GE HealthCare Technologies were worth $2,818,000 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. Mufg Securities Americas Inc. purchased a new stake in GE HealthCare Technologies during the 4th quarter valued at about $527,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of GE HealthCare Technologies by 11.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 103,691 shares of the company's stock worth $8,244,000 after purchasing an additional 10,832 shares during the period. NorthRock Partners LLC raised its stake in GE HealthCare Technologies by 127.0% during the 4th quarter. NorthRock Partners LLC now owns 6,253 shares of the company's stock worth $489,000 after acquiring an additional 3,498 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of GE HealthCare Technologies during the fourth quarter valued at approximately $2,480,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in GE HealthCare Technologies by 22.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 17,354 shares of the company's stock worth $1,357,000 after buying an additional 3,167 shares during the period. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of GEHC stock traded down $0.28 during trading hours on Friday, hitting $69.16. 2,486,569 shares of the company's stock were exchanged, compared to its average volume of 3,445,857. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market cap of $31.67 billion, a P/E ratio of 15.97, a P/E/G ratio of 3.19 and a beta of 1.21. The firm has a 50 day moving average of $70.10 and a two-hundred day moving average of $79.53. 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 data on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $4.66 billion. During the same period in the prior year, the company earned $0.90 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies Announces Dividend

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

GE HealthCare Technologies announced that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. 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. Citigroup reduced their target price on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the stock a "buy" rating in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.27.

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.