Rhumbline Advisers Buys 40,391 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Rhumbline Advisers raised its holdings in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 794,273 shares of the company's stock after acquiring an additional 40,391 shares during the quarter. Rhumbline Advisers owned about 0.17% of GE HealthCare Technologies worth $64,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies during the 4th quarter valued at $25,000. Runnymede Capital Advisors Inc. purchased a new position in GE HealthCare Technologies during the 4th quarter valued at about $28,000. LGT Financial Advisors LLC increased its position in shares of GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after buying an additional 123 shares during the period. Accredited Wealth Management LLC purchased a new stake in shares of GE HealthCare Technologies in the fourth quarter worth about $30,000. Finally, Ameriflex Group Inc. bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEHC shares. BTIG Research set a $95.00 price target on shares of GE HealthCare Technologies and gave the company a "buy" rating in a report on Monday, April 14th. Citigroup dropped their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Evercore ISI lowered their price target on GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen raised GE HealthCare Technologies from a "hold" rating to a "buy" rating in a report on Saturday, May 31st. Finally, Morgan Stanley decreased their price objective on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, GE HealthCare Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Trading Up 0.6%

Shares of NASDAQ GEHC traded up $0.42 during trading hours on Thursday, hitting $71.55. The company's stock had a trading volume of 1,864,761 shares, compared to its average volume of 3,437,854. The stock has a market cap of $32.76 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The business has a 50-day simple moving average of $68.35 and a 200-day simple moving average of $78.84. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The firm 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 10.13% and a return on equity of 25.74%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. On average, analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

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

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies's dividend payout ratio (DPR) is presently 2.95%.

GE HealthCare Technologies 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.