GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 57.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,314,473 shares of the company's stock after purchasing an additional 479,826 shares during the quarter. Royal Bank of Canada owned approximately 0.29% of GE HealthCare Technologies worth $102,767,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GEHC. CoreFirst Bank & Trust acquired a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $25,000. Runnymede Capital Advisors Inc. acquired a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $28,000. LGT Financial Advisors LLC boosted its position in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after acquiring an additional 123 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $30,000. Finally, Bank of Jackson Hole Trust acquired a new stake in GE HealthCare Technologies during the fourth quarter worth approximately $32,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GEHC shares. Piper Sandler decreased their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Citigroup decreased 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. 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. 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 on the stock in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, GE HealthCare Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

GE HealthCare Technologies Stock Down 0.4%

Shares of NASDAQ:GEHC traded down $0.28 during midday trading on Friday, hitting $69.16. 2,486,569 shares of the company's stock traded hands, compared to its average volume of 3,445,857. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.83 and a current ratio of 1.04. The company has a market cap of $31.67 billion, a PE ratio of 15.97, a P/E/G ratio of 3.19 and a beta of 1.21. The firm's fifty day moving average price is $70.10 and its two-hundred day moving average price is $79.53. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80.

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 business 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 business's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities research analysts anticipate that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

GE HealthCare Technologies announced that its board has initiated a stock buyback program on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, April 25th were paid a dividend of $0.035 per share. 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 dividend payout ratio (DPR) is 2.95%.

About GE HealthCare Technologies

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.