South Dakota Investment Council Buys 25,597 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

South Dakota Investment Council grew its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 32.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,607 shares of the company's stock after purchasing an additional 25,597 shares during the period. South Dakota Investment Council's holdings in GE HealthCare Technologies were worth $8,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GEHC. CoreFirst Bank & Trust bought a new stake in shares of GE HealthCare Technologies in the fourth quarter worth $25,000. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $28,000. Bogart Wealth LLC grew its holdings in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after purchasing an additional 247 shares during the period. Stonebridge Financial Group LLC grew its holdings in GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after purchasing an additional 222 shares during the period. Finally, LGT Financial Advisors LLC grew its holdings in 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 purchasing an additional 123 shares during the period. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Down 2.4%

NASDAQ GEHC traded down $1.80 during trading hours on Monday, hitting $74.16. 3,846,880 shares of the company were exchanged, compared to its average volume of 3,562,241. The stock has a 50-day moving average price of $72.98 and a 200 day moving average price of $77.22. The company has a quick ratio of 0.76, a current ratio of 0.98 and a debt-to-equity ratio of 0.73. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The stock has a market cap of $33.96 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 EPS 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 analysts' expectations of $4.66 billion. GE HealthCare Technologies had a return on equity of 24.95% and a net margin of 11.02%. The company's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be paid a $0.035 dividend. The ex-dividend date is Friday, July 25th. This represents a $0.14 annualized dividend and a yield of 0.19%. GE HealthCare Technologies's dividend payout ratio (DPR) is currently 2.95%.

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

Analysts Set New Price Targets

Several research firms have issued reports on GEHC. Piper Sandler cut their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. BTIG Research reissued a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Wall Street Zen upgraded GE HealthCare Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Wells Fargo & Company lowered their price objective on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Three 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 stock. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $88.55.

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.