USS Investment Management Ltd Decreases Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

USS Investment Management Ltd reduced its position in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 18.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,990 shares of the company's stock after selling 21,415 shares during the period. USS Investment Management Ltd's holdings in GE HealthCare Technologies were worth $7,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEHC. Waverly Advisors LLC raised its position in GE HealthCare Technologies by 87.3% during the fourth quarter. Waverly Advisors LLC now owns 5,493 shares of the company's stock worth $429,000 after acquiring an additional 2,560 shares during the last quarter. WS Management Lllp acquired a new stake in shares of GE HealthCare Technologies in the fourth quarter valued at approximately $9,538,000. Woodline Partners LP increased its stake in shares of GE HealthCare Technologies by 30.3% during the 4th quarter. Woodline Partners LP now owns 93,387 shares of the company's stock worth $7,301,000 after purchasing an additional 21,718 shares in the last quarter. Victrix Investment Advisors acquired a new position in shares of GE HealthCare Technologies during the 4th quarter worth approximately $258,000. Finally, Vident Advisory LLC lifted its stake in GE HealthCare Technologies by 14.3% in the 4th quarter. Vident Advisory LLC now owns 5,893 shares of the company's stock valued at $461,000 after buying an additional 738 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI dropped their price target on 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. BTIG Research set a $95.00 price objective on GE HealthCare Technologies and gave the stock a "buy" rating in a research report on Monday, April 14th. Wells Fargo & Company cut 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 raised shares of GE HealthCare Technologies from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $74.00 to $73.00 in a research note on Monday, May 5th. Finally, 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 for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

GE HealthCare Technologies Trading Up 2.8%

Shares of GEHC traded up $1.95 during mid-day trading on Tuesday, hitting $71.11. The company had a trading volume of 795,308 shares, compared to its average volume of 3,435,530. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80. The business's 50-day simple moving average is $69.83 and its 200-day simple moving average is $79.41. The stock has a market cap of $32.56 billion, a PE ratio of 16.43, a P/E/G ratio of 3.19 and a beta of 1.21. 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 posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm posted $0.90 earnings per share. GE HealthCare Technologies's revenue was up 2.7% on a year-over-year basis. Sell-side analysts forecast that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

GE HealthCare Technologies declared that its board has approved a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

GE HealthCare Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, April 25th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.20%. GE HealthCare Technologies's dividend payout ratio (DPR) is 2.95%.

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.