Waverton Investment Management Ltd Increases Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Waverton Investment Management Ltd boosted its stake in GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 699,730 shares of the company's stock after acquiring an additional 73,223 shares during the quarter. GE HealthCare Technologies comprises about 0.9% of Waverton Investment Management Ltd's holdings, making the stock its 27th largest holding. Waverton Investment Management Ltd owned approximately 0.15% of GE HealthCare Technologies worth $56,447,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GEHC. Capital Research Global Investors grew its stake in GE HealthCare Technologies by 4.5% during the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock valued at $4,755,851,000 after purchasing an additional 2,608,066 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GE HealthCare Technologies by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 52,537,446 shares of the company's stock worth $4,107,378,000 after buying an additional 2,155,429 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GE HealthCare Technologies by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock worth $882,777,000 after buying an additional 342,819 shares in the last quarter. Invesco Ltd. increased its stake in shares of GE HealthCare Technologies by 18.4% in the fourth quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after buying an additional 1,252,613 shares during the last quarter. Finally, Norges Bank acquired a new stake in GE HealthCare Technologies in the fourth quarter valued at $488,531,000. Institutional investors and hedge funds own 82.06% of the company's stock.

GE HealthCare Technologies Stock Up 2.9%

GE HealthCare Technologies stock opened at $74.86 on Friday. 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 one year low of $57.65 and a one year high of $94.80. The company has a 50-day simple moving average of $70.36 and a 200-day simple moving average of $77.70. The firm has a market capitalization of $34.28 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.45 and a beta of 1.13.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $4.78 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, equities analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GEHC shares. Citigroup decreased their price objective on shares of GE HealthCare Technologies from $105.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective 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. BTIG Research set a $95.00 target price on GE HealthCare Technologies and gave the stock a "buy" rating in a report on Monday, April 14th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and lowered their price target for the company from $74.00 to $73.00 in a report on Monday, May 5th. Finally, Piper Sandler dropped their price target on GE HealthCare Technologies from $104.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, GE HealthCare Technologies presently has an average rating of "Moderate Buy" and an average target price 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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