GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by SurgoCap Partners LP

SurgoCap Partners LP boosted its stake 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 firm owned 2,241,000 shares of the company's stock after purchasing an additional 532,811 shares during the quarter. GE HealthCare Technologies makes up 9.0% of SurgoCap Partners LP's investment portfolio, making the stock its 6th largest position. SurgoCap Partners LP owned about 0.49% of GE HealthCare Technologies worth $175,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GEHC. Toronto Dominion Bank grew its stake 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 during the last quarter. Steadfast Capital Management LP lifted its holdings in GE HealthCare Technologies by 11.1% in the 4th quarter. Steadfast Capital Management LP now owns 856,075 shares of the company's stock worth $66,928,000 after purchasing an additional 85,300 shares in the last quarter. Sandia Investment Management LP increased its stake in GE HealthCare Technologies by 42.9% in the 4th quarter. Sandia Investment Management LP now owns 5,000 shares of the company's stock worth $391,000 after acquiring an additional 1,500 shares during the last quarter. Skye Global Management LP bought a new position in GE HealthCare Technologies during the fourth quarter valued at $32,679,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of GE HealthCare Technologies by 24.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 721,643 shares of the company's stock valued at $56,418,000 after purchasing an additional 143,559 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

GE HealthCare Technologies Stock Performance

NASDAQ GEHC traded down $1.25 during trading on Tuesday, hitting $71.85. The company's stock had a trading volume of 3,268,213 shares, compared to its average volume of 3,422,893. GE HealthCare Technologies Inc. has a 52 week low of $57.65 and a 52 week high of $94.80. The firm has a market cap of $32.90 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 3.19 and a beta of 1.21. The firm has a 50 day moving average price of $70.87 and a 200 day moving average price of $79.96. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $4.66 billion. GE HealthCare Technologies had a return on equity of 25.74% and a net margin of 10.13%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Equities research analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies announced that its board has authorized a stock repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, April 25th. This represents a $0.14 annualized dividend and a dividend yield of 0.19%. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GEHC shares. UBS Group raised GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $74.00 to $73.00 in a research report on Monday, May 5th. Wells Fargo & Company lowered their price target on GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. BTIG Research set a $95.00 price target on GE HealthCare Technologies and gave the company a "buy" rating in a research note on Monday, April 14th. The Goldman Sachs Group cut their price objective on 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, Piper Sandler dropped their price objective on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus 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.