St. James Investment Company LLC Increases Stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

St. James Investment Company LLC boosted its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,457 shares of the company's stock after acquiring an additional 4,723 shares during the period. GE HealthCare Technologies accounts for about 2.9% of St. James Investment Company LLC's holdings, making the stock its 15th biggest position. St. James Investment Company LLC's holdings in GE HealthCare Technologies were worth $17,309,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Resonant Capital Advisors LLC purchased a new position in GE HealthCare Technologies in the 1st quarter worth approximately $221,000. Teacher Retirement System of Texas grew its stake in GE HealthCare Technologies by 156.4% in the 1st quarter. Teacher Retirement System of Texas now owns 287,720 shares of the company's stock worth $23,222,000 after buying an additional 175,517 shares in the last quarter. Keybank National Association OH grew its stake in GE HealthCare Technologies by 5.9% in the 1st quarter. Keybank National Association OH now owns 1,011,339 shares of the company's stock worth $81,625,000 after buying an additional 56,433 shares in the last quarter. Summit Trail Advisors LLC grew its stake in GE HealthCare Technologies by 13.5% in the 1st quarter. Summit Trail Advisors LLC now owns 6,734 shares of the company's stock worth $544,000 after buying an additional 800 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in GE HealthCare Technologies by 11.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,513 shares of the company's stock worth $4,480,000 after buying an additional 5,624 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Trading Up 0.0%

NASDAQ:GEHC traded up $0.03 during midday trading on Friday, reaching $76.15. 1,800,530 shares of the stock traded hands, compared to its average volume of 3,516,430. The company has a fifty day moving average of $71.72 and a 200 day moving average of $77.46. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The stock has a market capitalization of $34.87 billion, a P/E ratio of 16.03, a PEG ratio of 2.56 and a beta of 1.14.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its quarterly 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. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business posted $0.90 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies announced that its board has approved a share buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, July 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.18%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Analysts Set New Price Targets

GEHC has been the subject of a number of research reports. UBS Group raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and cut their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Evercore ISI cut their price target on shares of 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. Morgan Stanley cut their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Piper Sandler cut their price objective on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, BTIG Research set a $95.00 price objective on shares of GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, GE HealthCare Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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.