Victory Capital Management Inc. Has $54.78 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Victory Capital Management Inc. grew its stake in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 1.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 678,666 shares of the company's stock after acquiring an additional 11,609 shares during the period. Victory Capital Management Inc. owned about 0.15% of GE HealthCare Technologies worth $54,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CoreFirst Bank & Trust bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $25,000. Bogart Wealth LLC boosted its holdings in GE HealthCare Technologies by 260.0% during the first quarter. Bogart Wealth LLC now owns 342 shares of the company's stock valued at $28,000 after acquiring an additional 247 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in GE HealthCare Technologies during the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC boosted its holdings in GE HealthCare Technologies by 165.7% during the first quarter. Stonebridge Financial Group LLC now owns 356 shares of the company's stock valued at $29,000 after acquiring an additional 222 shares during the period. Finally, LGT Financial Advisors LLC boosted its holdings in GE HealthCare Technologies by 46.2% during the fourth quarter. LGT Financial Advisors LLC now owns 389 shares of the company's stock valued at $30,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Price Performance

Shares of GE HealthCare Technologies stock traded down $0.28 during midday trading on Friday, reaching $75.96. The company had a trading volume of 3,383,572 shares, compared to its average volume of 3,560,874. The company has a current ratio of 0.98, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The stock has a fifty day simple moving average of $72.98 and a 200 day simple moving average of $77.23. GE HealthCare Technologies Inc. has a 1-year low of $57.65 and a 1-year high of $94.80.

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 for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. The business 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 11.02% and a return on equity of 24.95%. GE HealthCare Technologies's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. As a group, 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 has approved a share repurchase program on Wednesday, April 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

GE HealthCare Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Friday, July 25th. GE HealthCare Technologies's dividend payout ratio is currently 2.95%.

Wall Street Analyst Weigh In

GEHC has been the subject of a number of recent analyst reports. BTIG Research restated a "buy" rating on shares of GE HealthCare Technologies in a report on Monday, July 14th. Evercore ISI reduced 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 research note on Thursday, May 1st. Morgan Stanley reduced their target price on shares of GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Piper Sandler dropped their price target on shares of GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target 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, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

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.