GE HealthCare Technologies Inc. (NASDAQ:GEHC) Stake Raised by SurgoCap Partners LP

SurgoCap Partners LP lifted its holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,241,000 shares of the company's stock after purchasing an additional 532,811 shares during the period. GE HealthCare Technologies comprises about 9.0% of SurgoCap Partners LP's portfolio, making the stock its 6th largest holding. SurgoCap Partners LP owned 0.49% of GE HealthCare Technologies worth $175,201,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GEHC. CoreFirst Bank & Trust purchased a new stake in GE HealthCare Technologies during the 4th quarter worth approximately $25,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of GE HealthCare Technologies during the fourth quarter worth approximately $28,000. LGT Financial Advisors LLC raised its stake in GE HealthCare Technologies by 46.2% in 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. Accredited Wealth Management LLC purchased a new position in GE HealthCare Technologies in the 4th quarter valued at $30,000. Finally, Bank of Jackson Hole Trust acquired a new stake in GE HealthCare Technologies during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 82.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $74.00 to $73.00 in a report on Monday, May 5th. Morgan Stanley dropped their price target on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Citigroup reduced their price objective on GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their target price on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

GE HealthCare Technologies Trading Down 1.0%

Shares of NASDAQ:GEHC traded down $0.70 during midday trading on Friday, reaching $68.75. 805,687 shares of the company's stock were exchanged, compared to its average volume of 4,200,890. The stock has a market cap of $31.48 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 3.19 and a beta of 1.21. GE HealthCare Technologies Inc. has a fifty-two week low of $57.65 and a fifty-two week high of $94.80. The firm's 50 day simple moving average is $70.36 and its two-hundred day simple moving average is $79.77. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 0.83.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a net margin of 10.13% and a return on equity of 25.74%. GE HealthCare Technologies's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 EPS for the current fiscal year.

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

GE HealthCare Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.20%. GE HealthCare Technologies's dividend payout ratio is currently 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.