Sumitomo Mitsui DS Asset Management Company Ltd Purchases 5,624 Shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,513 shares of the company's stock after purchasing an additional 5,624 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in GE HealthCare Technologies were worth $4,480,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CoreFirst Bank & Trust bought a new position in shares of GE HealthCare Technologies in the fourth quarter valued at $25,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of GE HealthCare Technologies in the 4th quarter worth about $28,000. Stonebridge Financial Group LLC lifted its position in GE HealthCare Technologies by 165.7% in the 1st quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. LGT Financial Advisors LLC boosted its stake in GE HealthCare Technologies by 46.2% during the 4th 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 last quarter. Finally, Accredited Wealth Management LLC acquired a new position in GE HealthCare Technologies during the 4th quarter valued at about $30,000. 82.06% of the stock is currently owned by institutional investors.

GE HealthCare Technologies Price Performance

Shares of NASDAQ:GEHC opened at $76.12 on Thursday. The company has a market capitalization of $34.85 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The company's 50-day moving average is $71.38 and its 200 day moving average is $77.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share 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 firm had revenue of $4.78 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

GE HealthCare Technologies Announces Dividend

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. This represents a $0.14 annualized dividend and a yield of 0.18%. GE HealthCare Technologies's payout ratio is 2.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on GEHC shares. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a "buy" rating in a research report on Monday, April 14th. Morgan Stanley dropped their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. The Goldman Sachs Group cut 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 report on Thursday, May 1st. Finally, Evercore ISI lowered their target price on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average price target of $88.27.

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.

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