State of Wyoming Purchases 3,787 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

State of Wyoming boosted its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 143.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,434 shares of the company's stock after purchasing an additional 3,787 shares during the quarter. State of Wyoming's holdings in GE HealthCare Technologies were worth $503,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. SurgoCap Partners LP raised its holdings in shares of GE HealthCare Technologies by 31.2% in the 4th quarter. SurgoCap Partners LP now owns 2,241,000 shares of the company's stock worth $175,201,000 after purchasing an additional 532,811 shares in the last quarter. Toronto Dominion Bank increased its position in shares of GE HealthCare Technologies by 71.5% in the fourth quarter. Toronto Dominion Bank now owns 263,565 shares of the company's stock worth $20,606,000 after acquiring an additional 109,875 shares in the last quarter. Steadfast Capital Management LP increased its position in shares of GE HealthCare Technologies by 11.1% in the fourth quarter. Steadfast Capital Management LP now owns 856,075 shares of the company's stock worth $66,928,000 after acquiring an additional 85,300 shares in the last quarter. Sandia Investment Management LP grew its position in GE HealthCare Technologies by 42.9% during the fourth quarter. Sandia Investment Management LP now owns 5,000 shares of the company's stock valued at $391,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Skye Global Management LP purchased a new position in GE HealthCare Technologies during the fourth quarter valued at approximately $32,679,000. 82.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEHC. The Goldman Sachs Group lowered their price objective on shares of 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. Wells Fargo & Company reduced their target price on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. UBS Group upgraded shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Evercore ISI reduced 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 note on Thursday, May 1st. Finally, Citigroup reduced their price objective on shares of 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. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Stock Performance

NASDAQ:GEHC traded down $0.28 during trading hours on Friday, hitting $69.16. 2,486,569 shares of the company traded hands, compared to its average volume of 3,445,857. The stock has a market capitalization of $31.67 billion, a price-to-earnings ratio of 15.97, a P/E/G 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 firm has a 50-day moving average of $70.10 and a 200 day moving average of $79.59. The company has a current ratio of 1.04, a quick ratio of 0.83 and a debt-to-equity ratio of 0.88.

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 the consensus estimate of $0.91 by $0.10. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. The firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the company earned $0.90 EPS. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current year.

GE HealthCare Technologies declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were paid a $0.035 dividend. 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 is 2.95%.

GE HealthCare Technologies Company 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.