GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Decreased by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its shareholding in GE HealthCare Technologies Inc. by 49%, selling 5,880 shares, leaving them with 6,109 shares valued at approximately $489,000.
• GE HealthCare's stock has been rated as a "Moderate Buy" by analysts, with the current average target price set at $88.55.
• The company announced a quarterly dividend of $0.035 per share, with an upcoming payment date of August 15th, indicating a dividend yield of 0.2%.

Raiffeisen Bank International AG trimmed its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 49.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,109 shares of the company's stock after selling 5,880 shares during the period. Raiffeisen Bank International AG's holdings in GE HealthCare Technologies were worth $489,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. LGT Financial Advisors LLC grew its position in GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after acquiring an additional 123 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of GE HealthCare Technologies by 0.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 17,173 shares of the company's stock valued at $1,343,000 after purchasing an additional 126 shares during the period. Graypoint LLC boosted its stake in shares of GE HealthCare Technologies by 5.7% in the first quarter. Graypoint LLC now owns 3,028 shares of the company's stock valued at $244,000 after purchasing an additional 162 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in GE HealthCare Technologies by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 5,336 shares of the company's stock valued at $431,000 after purchasing an additional 166 shares in the last quarter. Finally, Spire Wealth Management increased its stake in GE HealthCare Technologies by 5.2% during the 1st quarter. Spire Wealth Management now owns 3,367 shares of the company's stock worth $272,000 after buying an additional 166 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Performance

Shares of NASDAQ:GEHC traded up $0.90 during trading on Friday, reaching $72.00. 2,715,607 shares of the company's stock traded hands, compared to its average volume of 4,414,311. The stock has a market capitalization of $32.87 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 2.72 and a beta of 1.13. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a 50 day moving average of $73.62 and a 200-day moving average of $76.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 0.93.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.91 by $0.15. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.96 billion. GE HealthCare Technologies had a return on equity of 23.93% and a net margin of 11.22%. The business's revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. On average, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its board has approved a stock repurchase program on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.2%. GE HealthCare Technologies's payout ratio is 2.87%.

Analysts Set New Price Targets

GEHC has been the subject of a number of analyst reports. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Evercore ISI lowered their price objective on 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. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Finally, The Goldman Sachs Group decreased 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 report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.55.

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.