State of Wyoming Increases Position in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State of Wyoming increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 143.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,434 shares of the company's stock after acquiring an additional 3,787 shares during the period. State of Wyoming's holdings in GE HealthCare Technologies were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies in the fourth quarter valued at $25,000. Runnymede Capital Advisors Inc. acquired a new position in shares of GE HealthCare Technologies in the 4th quarter valued at about $28,000. LGT Financial Advisors LLC boosted its stake in shares of GE HealthCare Technologies by 46.2% in the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock worth $30,000 after buying 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 about $30,000. Finally, Bank of Jackson Hole Trust purchased a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GEHC. Piper Sandler lowered their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley lowered their price target on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Evercore ISI decreased their price objective on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their target price on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.27.

GE HealthCare Technologies Stock Down 0.0%

GEHC opened at $73.10 on Tuesday. The company has a market cap of $33.47 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a twelve month low of $57.65 and a twelve month high of $94.80. The company has a 50-day moving average price of $71.06 and a 200 day moving average price of $80.02. The company has a quick ratio of 0.83, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced 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. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The business had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Announces Dividend

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 0.19%. The ex-dividend date was Friday, April 25th. GE HealthCare Technologies's payout ratio is 2.95%.

GE HealthCare Technologies declared that its board has authorized a stock buyback program on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.

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